Delta Technologies signs for HUF 1 bln credit line with OTP

Banking

Photo by Jessica Fejos

Listed company Delta Technologies, formerly called EST MEDIA, said on Tuesday that it and its two units Delta Systems and Delta Software Technologies has signed a contract for a HUF 1bn credit line with OTP Bank, according to a report by state news wire MTI.

Fresh funding amounts to HUF 750 million of the total credit line as it includes a HUF 250 mln guarantee credit contract, announced on September 14, the company said.

The credit line is open until June 30, 2022. 

Delta Technologies said it intends to use the money to finance big-value projects.

The company statement noted that the credit exceeds 25% of the issuer's net assets as of June 30, 2020.

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