Romanian constructor takes EUR 52 mln syndicated loan

Local constructor Delta ACM 93, controlled by the Romanian investor Florea Diaconu, will take a EUR 52 million syndicated loan for two years. The financing will contribute to the working capital and will help the company issue guarantee letters for the contracts concluded with several beneficiaries. Local lender BRD Groupe Societe Generale granted the loan, together with Bancpost. The company had a turnover of almost EUR 114 million last year, and it estimates similar revenues for this year. The constructor has expanded abroad, as the local construction market has dropped by over 40% after the crisis. It now has projects in Austria, Gabon, Algeria, and the Republic of Moldova. editor@romania-insider.com