State lender gives loan to Romanian vegetable oil producer

EximBank, one of the two banks owned by the Romanian state, has granted a loan facility worth up to EUR 10.4 million to Prutul SA, a local agri-business company that specializes in producing edible oil. Prutul will use the funds to finance the procurement of raw materials. The ceiling includes a financing line of RON 40 million (EUR 9 million) that will cover the running capital for sunflower seed acquisitions. The rest of the amount represents a treasury line for forward transactions, for protecting the firm against currency risk related to exports. Prutul is one of the few Romanian entrepreneurial businesses which ranks among top players in this sector, according to EximBank. The company had sales of EUR 165.5 million in 2015. editor@romania-insider.com