We continue the extensive presentation of the Energy Evolution 2015 nominations with the Financing of the year category. Only one of the projects below will be awarded during the Gala on December 3. However, each of the companies and all the people involved in these projects deserve our respect and the widest promotion possible.
CEZ Distribuție
Syndicated loan of EUR 154mln
CEZ Distribuție participates in the competition for the Financing of the Year with the success of contracting a syndicated loan of approximately EUR 154mln from EBRD, ING, City Bank and Societe Generale for investments in the electricity distribution network.
Citibank, ING Bank and Societe Generale participated together with the equivalent in RON of almost EUR 90mln, and the part covered by EBRD is the equivalent of EUR 64mln. The loan represents the first long-term syndicated financing in local currency granted by EBRD to a company in Romania.
In the local market of corporate financing, the syndicated loan obtained by CEZ Distribuție is one of the highest this year. Investments planned with this financing aim at implementing measures for reducing losses in the network, for energy efficiency and smart metering. Immediate benefits of investments will include the optimized operation of the network and continuity in supplying electricity to consumers. Financing refers to investments in 2015-2016 in the distribution network, whose purpose was to cut costs, improve efficiency, install smart meters, restructure the accounting balance in order to optimize the capital structure and provide working capital.
KMG International
Syndicated loan of USD 360mln
KMG International NV proposes for the Financing of the Year award the contracting of a credit facility worth USD 360mln achieved by companies of the group to refinance existing loans and to cover the general financing needs.
The facility is of multi-currency revolving type, has a 3-year maturity and was contracted from a syndicate of banks consisting of Banca Comercială Română, as Coordinator, ING Bank NV Amsterdam – Bucharest Branch, Raiffeisen Bank SA and UniCredit Țiriac Bank SA.
The facility will be used by Rompetrol Rafinare, Rompetrol Downstream, KazMunayGas Trading and KMG Rompetrol; it includes two installments, a revolving credit facility and an installment which can be used as ancillary facilities.
OMV Petrom
Syndicated loan of EUR 1bn
OMV Petrom candidates to the Financing of the Year award with the success of a syndicated loan worth EUR 1bn, absolute record for a local company in the market of corporate financing. 17 banks have granted the loan in RON, EUR and USD.
The syndicated loan is intended to finance the current operations and refinance a loan of EUR 930mln contracted in 2011. The Lead Arrangers – BRD, SocGen and UniCredit Bank Austria AG – have each undertaken exposures of over EUR 100mln in the new loan.
The new revolving-type facility is granted by a group of 17 local and international banks. The bulk of the money comes from foreign banks, local banks having a smaller share in the transaction, the epicenter of the deal being London. The loan has a 5-year maturity, which may be renewed for two more consecutive years, so due by May 2022, and is designed to replace a syndicated credit line worth EUR 930 million contracted in November 2011 and so far unused.
Oscar Downstream
Investments in developing the storage and distribution infrastructure
Oscar Downstream strategy aims at expansion and consolidation of its position in the Romanian market, after financing with EUR 25mln the infrastructure projects in storage and distribution capabilities, throughout the flow, to the end user.
The most important component of the investment of EUR 25mln for a 3-year period is the modernization of own storage facilities and building from scratch 5 Greenfield storage facilities to reach a total own storage capacity of approximately 50,000 cubic meters in 2016, complying with the highest standards in the field.
The implementation of the strategy started in 2013 by purchasing the storage in Fundulea, followed by the inauguration of its own storage in Şercaia (Braşov) in 2014, extension on a new business division with a package of services dedicated to agriculture, increasing the own fleet of petroleum products distribution, increasing the own sales network, opening the second storage in Zădăreni (Arad) and introducing gasoline in the portfolio of products, in 2015. We aim to complete by the end of 2015 works at the storage in Ocna Mureş and open 4 new stations to supplement the own network dedicated to corporate customers, following to complete in 2016 the 4th Greenfield storage in Roman and upgrade/modernize and extend the storage in Fundulea.
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Eight of the best experts in the Romanian energy industry joined to jury the candidate projects and people for the third edition of Energy Evolution Awards!
The third Energy Awards Gala organized by energynomics.ro brings something new compared with the editions in 2013 and 2014 – an exhibition dedicated to the Evolution in technologies and solutions for energy, hosted in the venue of this year’s Gala. Find out more details on 2015 Energy Awards.