Romanian courier borrows almost EUR 37 mln to refinance debts

Local courier Urgent Cargus has borrowed EUR 36.8 million from local lenders BRD and BCR to refinance its debts at lower costs, said Cezar Scarlat, partner of the investment fund Abris Capital Partners, which owns the courier. The interest rates in the market are decreasing, so a new loan will allow the company to reduce its financing costs, Scarlat said, cited by local Profit.ro. Urgent Cargus has resulted from the merger of Urgent Curier and Cargus International, both controlled by Abris Capital Partners. Abris Capital Partners is a private equity company interested in investments in Central and Eastern Europe. Urgent Curier posted a turnover of EUR 37 million and a net profit of EUR 833,000 in 2014. editor@romania-insider.com