KMG borrows 360 mln. USD sindicated from BCR, ING, Raiffeisen and UniCredit Ţiriac

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KMG International N.V. (formerly “The Rompetrol Group N.V.”), signed a 3-years USD 360 million senior secured multicurrency revolving credit (Facility) with a syndicate formed by Banca Comerciala Romana SA, acting as a Coordinator, ING Bank N.V. Amsterdam – Bucharest Branch, Raiffeisen Bank SA and UniCredit Tiriac Bank SA, reveals a release received by energynomics.ro.

The Facility, guaranteed by KMG International N.V., will be used by Rompetrol Rafinare SA, Rompetrol Downstream SRL, KazMunayGas Trading AG and KMG Rompetrol SRL for refinancing of their existing financial debt and for general corporate purposes. This Facility is comprised of two tranches, a revolving credit facility and a tranche that can be used by way of Ancillary Facilities.

“This partnership is important for KMG International since it ensures financing lines and working capital necessary for all activities and operations in the group. At the same time, it is a trustworthy approach of the banking institutions, in terms of both the amount granted and the complexity of the financing facility to be used for multiple business purposes” says Mariana Durlesteanu, Chief Financial Officer KMG International.

The four mandated lead arrangers providing the facility in equal shares are Banca Comerciala Romana SA (member of Erste Group), ING Bank N.V. Amsterdam – Bucharest Branch, Raiffeisen Bank SA and UniCredit Tiriac Bank SA. Banca Comerciala Romana SA acted as Coordinating Mandated Lead Arranger and Documentation Agent, UniCredit Bank AG, London Branch acts as a Facility Agent and UniCredit Tiriac Bank SA acts as an Issuing Bank, a Security Agent and a Paying Agent.

Allen&Overy LLP together with its Romanian associates Radu Taracila Padurari Retevoescu SCA acted as a legal advisor to the lenders, where Eversheds London acted as a legal advisor on the borrower’s side.

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Bogdan Tudorache

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