Romanian refinery owner prolongs USD 360 mln loan facility

KMG International Group (KMGI), the owner of Romania’s largest oil refinery – Petromidia, has amended and extended its USD 360 million multicurrency revolving credit facility from a syndicate of four local banks.

The amended maturity of this loan is 3 years with two 1-year extension options.

The loan was arranged by a syndicate made of ING Bank N.V– Bucharest Branch, Banca Comerciala Romana, Raiffeisen Bank and UniCredit Bank, which had equal contributions.

The credit facility, guaranteed by KMG International, will be used by Rompetrol Rafinare, Rompetrol Downstream, KazMunayGas Trading and KMG Rompetrol for their general financing needs and for the creation of an efficient operating environment ensuring smooth running of their business, the group announced.

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