Petrom plans to borrow half a billion euro for investments

The loan requires approval from OMV, which could get involved in the process, according to Petrom General Manager Mariana Gheorghe.

Mariana Gheorghe also indicated that the loan could have an impact on the entire OMV group. “Depending on financial operational results, to continue financing investments, we will also need external funding,” Mariana Gheorghe added.

According to her, the exact value of the loan will depend on the cash flow the company will generate in the coming months. The loan which Petrom plans to contract will be one of the largest corporate loans on the Romanian market.

Recently, telecommunication group RCS&RDS announced that it borrowed $500 million from a bank consortium, after pharmaceutical company A&D Pharma borrowed over €120 mln from a bank consortium led by Citibank London.