OTP Bank Rt said on Thursday it will provide Romania's Hargita Gaz with a €12.5 million long-term credit line to build and operate a gas network in Harghita County in Romania.
Additionally, the bank will place at Hargita Gaz's disposal a €1.8 million operating capital facility and a €1.5 million revolving VAT facility. The loan agreement was signed in Romania on Thursday by OTP deputy CEO László Wolf and Director for Project financing and Acquisitions Miklós Németh, and by Hargita Gaz's Chairman of the Board Gábor Nagy and board member József Kele.
Under the agreement, OTP will provide the long-term investment loan, and its Romanian unit, OTP Bank Romania, will provide the working capital and VAT facilities. The cost of the entire project is €25 million.