Banca Transilvania is providing SNTGN Transgaz SA with RON 300 million in financing, and the Revolving Credit and Letter of Guarantee Issuance Facilities Agreement was signed today, July 16, in Bucharest by Omer Tetik, CEO, Banca Transilvania, and Ion Sterian, CEO, Transgaz.

Statements:

• “Together with my colleagues involved, I’m pleased we have completed this transaction and are thereby able to serve a company of national importance such as Transgaz, which is vital to the national energy system — and thus, once again, to serve all Romanians. This is a flagship transaction for us. Thank you to the teams from both companies for the professionalism and speed with which they structured it.” - Omer Tetik, CEO, Banca Transilvania

• “Transgaz launched a competitive process to select a bank for a credit facility of up to RON 300 million, unsecured, with a 2-year tenor and a floating interest rate, to finance the company’s working capital needs for its day-to-day operations. In the competitive negotiation, the selection criterion for contracting the facility was the lowest total cost of funding. Following the evaluation of the offers received, Banca Transilvania’s offer had the lowest total cost of funding and thus won. Transgaz and Banca Transilvania have been working together for many years, and by concluding this financing agreement the cooperation between the two institutions is further strengthened.” - Ion Sterian, CEO, SNTGN Transgaz

The amount will finance Transgaz’s working capital, and the agreement is for 2 years.