Romanian farming group Cerealcom gets EUR 100 mln revolving club loan from BCR, Erste

Romanian farming group Cerealcom Dolj, active in production and trading, contracted a EUR 100 million revolving club loan facility that could be increased to EUR 150 million, from Romanian bank BCR and its Austrian owner Erste Group Bank.

BCR participated with EUR 70 million, and Erste Group Bank added EUR 30 million.

The financing matures in 2025 and is intended to finance current activity and help Cerealcom carry out specific projects. Thus, it will support the operation of a modern logistics base but also the expansion of the grain acquisition and export base.

"Ensuring adequate liquidity is essential for our customers and is particularly relevant for Cerealcom Group, the largest Romanian exporter of agricultural products. The additional support provided by this facility will further contribute to the security of local and regional food chains," mentioned George Barbat, Industry Leader Commodities at Erste Group.

(Photo source: Jerome Cid/Dreamstime.com)