A stand-by liquidity facility of up to EUR 5 million to help RAJA SA ("RAJA" or "Company"), the largest regional water and wastewater company in Romania, withstand the adverse impacts caused by the Covid-19 pandemic on its product demand and operations. The funds will be used for working capital needs, to alleviate receivables collection problems RAJA expects to encounter over the next year.
RAJA serves many tourist areas, including the two largest in the country: the seaside resorts in Constanta and the mountain resorts in Brasov. The company relies on groundwater for 93% of its water supply, thereby incurring large energy costs for extraction. Of all water supply in the system, 59% is non-revenue water (i.e. lost due to spillages along the distribution network, and not invoiced). Thus, the company incurs large fixed costs, while part of the demand is tourism-dependent (45% of revenues come from non-residential consumers).
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+40 754 073 217
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