Large oil group gets USD 360 mln loan from Romanian banks

Oil group KMG International, the former Rompetrol group, recently signed a syndicated loan worth USD 360 million with a consortium of Romanian banks. The lenders are BCR, ING Bank, Raiffeisen Bank and UniCredit Tiriac Bank and the loan is for three years, the company announced. The credit facility will be used by the group’s companies, including Rompetrol Rafinare, Rompetrol Downstream, KazMunayGas Trading and KMG Rompetrol to refinance outstanding loans and to cover their financing needs. KMG International if entirely owned by KazMunayGas, the state oil company of Kazakhstan. It has operations in 12 countries, the most important of which are Romania, France, and Spain. The group had a turnover of about USD 11.4 billion and an operating profit EBITDA of USD 140 million in 2014. editor@romania-insider.com