Clifford Chance Badea has advised a bank syndicate coordinated by Banca Comerciala Romana on the USD 531.8 million syndicated loan facility – which can be increased to USD 600 million – for three KMG International Group companies in Romania: Rompetrol Rafinare, Rompetrol Downstream, and KMG Rompetrol.
According to Clifford Chance Badea, “the bank syndicate included Banca Comerciala Romana, who acted as the coordinator, mandated lead arranger, bookrunner, documentation, facility and security agent, and lender, alongside ING Bank through ING Bank Amsterdam-Bucharest Branch, Raiffeisen Bank, and UniCredit Bank, as mandated lead arrangers and lenders, Alpha Bank Romania as arranger and lender, and Garanti Bank and OTP Bank Romania as lenders.”
Rompetrol Rafinare is the operator of the Petromidia Navodari and Vega Ploiesti refineries. Rompetrol Downstream is the retail division of Rompetrol. KMG Rompetrol is the management arm of the group in Romania.
According to the firm, “the new syndicated facility will be used by the Romanian entities within the KMG International Group to finance working capital and support the expansion strategy of commercial operations, including to refinance the existing syndicated loan of USD 435 million.”
Clifford Chance Badea’s team was led by Counsel Andreea Sisman and included Senior Associate Madalina Mailat and Lawyer Nicolae Grasu alongside further team members in Amsterdam, Munich, and Bucharest.
Clifford Chance did not respond to our inquiry on the matter.