Romanian jewellery chain Teilor gets EUR 8.5 mln financing for expanding abroad
Teilor, a Romanian chain of jewellery stores that operates in the Central and Eastern European region, announced that it obtained a credit line and an investment loan in the total amount of EUR 8.47 mln from state-owned bank EximBank.
The group that includes the jewellery store chain plans to raise RON 45 mln (EUR 9.1 mln) through a private placement of corporate bonds on the Bucharest Stock Exchange.
The holding also includes Teilor Invest Exchange, a network of exchange offices, and Invest Intermed GF IFN, a non-bank financial institution that carries out short-term financial lending activity with a pledge, with the last two companies operating together under the MoneyGold brand.
The capital granted by EximBank will be used for the acquisition of jewellery stocks and for further investments in the stores that the company will open abroad.
"The credit lines obtained from EximBank will support us in the efforts to expand the Teilor brand at an accelerated pace (...) We want to build a strong Romanian brand abroad and deliver the promised growth results to all parties involved. The credit lines granted by EximBank and guaranteed by the Romanian state complement the financing we seek to attract from investors on the local capital market. We are in a favourable moment for our business, and we want to make the most of the opportunities we have at our disposal," said Willy Dicu, CEO of Teilor.
(Photo source: Teilor)