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EBRD: CFR SA financial restructuring project

CFR SA, Romanian state-owned railway infrastructure manager,  intends to use the proceeds of a sovereign guaranteed loan from the European Bank for Reconstruction and Development for a financial restructuring project enabling CFR to implement a restructuring programme to improve its financial sustainability.

The Loan had a total value EUR 175 million and consists of two Tranches, the first one in the amount of EUR 110,000,000; and the second one in the amount of EUR 65,000,000. The proceeds of the loan was dedicated to refinancing, in tranches, of the bridge loan extended to the Borrower by the Ministry of Public Finance of Romania and a consultancy contract for preparation and implementation of a detailed Restructuring Action Plan for CFR.

Up to present, from the first tranche was used the amount of EUR 108,766,500; the above mentioned bridge loan extended to the Borrower by the Ministry of Public Finance of Romania was fully repaid. Therefore, form the first tranche remains to be used EUR 1,233,500 intended to finance the consultancy contract for preparation and implementation of a detailed Restructuring Action Plan for CFR.

The selection process for the above mentioned consultancy contract is expected to begin in the second quarter of 2014.

Contracts to be financed with the proceeds of the EBRD loan and will be subject to the Bank’s Procurement Policies and Rules. The tender process will be open to firms from any country. The proceeds of the Bank’s loan will not be used for the purpose of any payment to persons or entities, of for any import of goods, if such payment or import is prohibited by a decision of the United Nations Security Council taken under Chapter VII of the Charter of the United Nations or under a law of official regulation of the Purchaser’s country.

Interested suppliers, contractors and consultants should contact:

CONTACTS

Mr. Alexandru Macarie Moldovan
Director General
Compania Nationala a Cailor Ferate Romane CFR SA
Address: B-dul Dinicu Golescu, Nr 38, Sector1, Bucharest – 010873, Romania
Tel: + 40 21 319 24 00
Fax: + 40 21 319 24 01

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