Romanian tissue paper producer gets EUR 24 mln syndicated loan

Romanian company Pehart Tec, the producer of the Pufina toilet paper, has received a syndicated loan of EUR 24 million from local lenders BCR, Banca Transilvania, and Eximbank. The credit has a three-year maturity, and can be prolonged for another two years. The group will use it to refinance its current loans and to cover its work capital needs. Within the financing, BCR is the coordinator. Pehart Tec group is controlled by investment fund Abris Capital Partners in partnership with Romanian investor Ioan Tecar. It was founded by Ioan Tecar in 2007, and the fund Abris Capital Partners acquired the control package in June 2015. It runs two production units in Dej and Sebes, with a production capacity of 100,000 tons of tissue paper. The company had a turnover of EUR 62 million and a net profit of EUR 1.3 million in 2015, according to data from the Finance Ministry. It employed 300 people. editor@romania-insider.com (photo source: Peharttecgrup.ro)