BCR refinances USD 425 mln loan for KazMunayGas-owned Romanian refinery Rompetrol

Romanian refinery Rompetrol, owned by Kazakh state group KMG International, announced it signed a new syndicated loan in the amount of USD 531.8 mln with an option to increase it up to USD 600 mln.

The loan is aimed at refinancing the existing syndicated loan of USD 435 mln and financing general corporate needs. It is guaranteed by KMG International and can also be used by other companies in the group.

Mortgages are set up on several assets held by KMG International’s subsidiaries, including fuel distribution stations, warehouses, stocks of petroleum products, trade receivables, and bank accounts.

Banca Comerciala Romana arranged the new syndicated facility loan. ING Bank, through its Romanian subsidiary, Raiffeisen Bank (Romania) and UniCredit Bank(Romania) and Alpha Bank Romania, acted as arrangers and lenders, while Garanti Bank and OTP Bank Romania were involved as lenders.

Lending financial institutions were assisted by the international law firm Clifford Chance through its Bucharest office, Clifford Chance Badea.

(Photo source: Rompetrol Rafinare)