Romanian natural gas producer Romgaz [BSE:SNG] said it has secured a 100 million euro ($102.8 million) credit line from UniCredit Bank Romania, a unit of Italian financial group UniCredit.
Romgaz will use the loan proceeds to cover its general needs and expenses, it said in a statement filed with the Bucharest Stock Exchange, BVB, on Monday.
The loan has a maturity of 24 months.
Last week, Fitch Ratings revised Romgaz's outlook to 'negative' from 'stable' following a similar action on the sovereign rating of Romania.
In October, Romgaz raised 500 million euro through a debut eurobond issue, marking the first issuance carried out under the company's Euro Medium Term Notes (EMTN) programme worth 1.5 billion euro. A month later, the eurobond issue was listed on the BVB.
In the first nine months of 2024, Romgaz' consolidated net profit rose by 4.8% to 2.274 billion lei ($470.1 million/457.1 million euro), thanks to the elimination of the solidarity contribution in 2024.
Romgaz's shares traded 1.17% higher at 5.2 lei as at 1555 CET on January 3 on the Bucharest bourse.
(SeeNews, January 3, 2024)
