EBRD shares exposure on €40 million Banca Transilvania loan Beneficiary of loan is cornstarch producer Omnia Europe SA Loan will finance extension of Omnia factory for new waxy starch products Banca Transilvania (BT) is lending €40 million to Omnia Europe SA (Omnia Romania), a leading corn starch producer and owner of the largest starch factory in Romania and southeastern Europe. Half the loan amount, €20 million, will be guaranteed by the European Bank for Reconstruction and Development (EBRD), under the Risk-Sharing Facility (RSF) with Banca Transilvania. The financing will support the company in expanding its operations by establishing a new unit dedicated to producing waxy starch. Omnia Europe SA, based in Medgidia, Constanta County, is a producer of starch, maltodextrin and by-products, key ingredients for many products in the food, pharmaceutical, pulp and paper and chemical industries. It is a subsidiary of Omnia Nisasta Ticaret AS and part of the Turkish Tosmur Group, one of the largest producers of corn starch and derivatives products. The European Bank for Reconstruction and Development (EBRD) is using its Risk Sharing Framework (RSF) to support the expansion of businesses in its countries of operations and boost the lending capacity of local partner banks. “We are delighted to reinforce our commitment to the Romanian agribusiness sector by supporting the expansion of Omnia Group within the country. This transaction highlights the strong collaboration with Banca Transilvania and underscores the effectiveness of the Risk Sharing Framework in facilitating the growth ambitions of companies across EBRD’s Countries of Operations. Furthermore, this initiative is particularly significant as it focuses on processing agricultural commodities into higher-value products, contributing to Romania’s efforts to improve its food and agricultural trade balance” said Victoria Zinchuk, EBRD’s Head of Romania. The EBRD is a major institutional investor in Romania. To date it has invested almost €11.5 billion in 550 projects in the country.
Moldovan carrier Flyone will add a route between Bucharest and Munich starting in October. The flights to Munich will be operated on Mondays, Wednesdays, and Fridays. This adds to the flights it has connecting the Romanian capital to Tel Aviv, Brussels, and Verona. With these routes, the airline is responding to the constant demand from […]
Romanian electricity distributor and supplier Electrica listed the largest issue of green, corporate, and non-financial bonds on the Romanian capital market, reaching a total value of EUR 500 million, on July 30. The bonds, with the stock symbol EL30E, are registered, non-convertible, unsecured, denominated in euro, have a nominal value of EUR 1,000 each, and […]
Dracula Film Festival, the event dedicated to horror and fantasy film, has opened the call for entries in its four competition sections. The festival runs four competition: Dracula Trophy, an international feature film competition; Little Dracula, an international short film competition; Vladutz, a Romanian short film competition; and Dracula Digital, a competition dedicated to young […]
Investment firm Mozaik Investments has acquired a majority stake in Genesis College, a large private educational institution in Bucharest. After receiving all approvals, Mozaik will provide growth capital to accelerate the development of the educational network through investments in new campuses and the expansion of schooling capacity, as well as the development of the International […]
The Romanian investment fund market has surpassed the threshold of one million investors. Moreover, the net assets of the 248 open-ended and closed-ended funds reached RON 51.8 billion (EUR 10.2 billion) in June, according to data from the Romanian Fund Managers Association, or AAF. Specifically, 1,007,481 people in Romania had money in the local and […]
Local authorities in Hunedoara announced investments worth RON 200 million for the King’s Road, which connects the spa resort Vața de Jos, in Hunedoara County, and the Royal Castle at Săvârșin. The road was built in the post-war period by order of King Michael I of Romania and was paved with cobblestone. Now, the authorities […]
