Romanian investment fund extends EUR 9 mln bridge financing to Blue Air
Romanian airline Blue Air, controlled by local investors, has managed to draw a EUR 9 million financing from local investment fund SIF Banat-Crisana.
The funding came through a private bond placement, in December 2019, and was not reported to the Bucharest Stock Exchange by the lender, according to Ziarul Financiar daily.
The investment accounts for 1.6% of the whole portfolio managed by SIF Banat-Crisana.
The bonds are due in June, according to Ziarul Financiar. The annualized cost of the funds (the coupon) is 13.2%, according to the daily’s calculations.
Blue Air is now seeking a EUR 45 mln rescue loan from the Government after the restrictions generated by the coronavirus outbreak have suspended most of the company's flights.
editor@romania-insider.com
(Photo source: Facebook/Blue Air)
