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» BRD finances construction of new Steaua stadium in Bucharest
2020-10-20
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BRD finances construction of new Steaua stadium in Bucharest
2020-10-20
source own
Romanian lender BRD Groupe Société Générale and local construction group Constructii Erbasu signed a credit agreement worth RON 52.5 million (EUR 10.9 mln) to finance the construction works of the new Steaua stadium in Bucharest.Within the financing ceiling dedicated to the project, BRD granted to the construction group a credit facility with two components, one for revolving financing of construction expenses and one to guarantee the obligations assumed in the works contract, worth RON 10.9 million (EUR 2.27 mln).The new Steaua stadium, built in the context of Bucharest hosting four matches of the EURO 2020 football championship, should be completed this fall.The Steaua stadium will be used as a training stadium by the teams that will come to Bucharest in the summer of 2021. The official matches will be played on the National Arena.The new Steaua arena, with a capacity of 31,254 seats, and a built area of 82,000 sqm, meets the criteria imposed by UEFA for sports competitions.
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