Fondul Proprietatea borrows RON 1bn from BRD to repurchase shares

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Fondul Proprietatea has concluded on Monday a ‘revolving’ credit agreement for a maximum amount of RON 1 billion with BRD – Groupe Societe Generale, which will be used for programmes to repurchase shares, Franklin Templeton Investment Management Limited United Kingdom, Bucharest Branch, as administrator of the Fund, informs.

This credit facility will replace previous financing arrangement concluded by the Fund with Citibank Europe Plc.

The availability period of the credit agreement is of one year with possibility to be extended for the same period, reports.

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