On September 30, 2021, Chimcomplex Borzesti, which owns the Oltchim and Borzesti platforms, concluded EUR56.7 million loan contracts, of which EUR26.7 million from state-run lender CEC Bank and EUR30 million from Alpha Bank. The funds will be used to fully refinance the company’s existing loans taken out from VTB Bank Europe and Argentum Netherlands BV/Credit Suisse International and to continue several development projects.
The funding granted by CEC Bank includes a term loan facility in the amount of EUR20 million and a revolving credit facility of EUR6.7 million which will reach the maximum ceiling of EUR40 million. The EUR30 million funding from Alpha Bank Romania consists of a term loan facility.
The amount of EUR56.7 million will be supplemented by a financing of EUR33.3 million from CEC Bank which will be contracted during October 2021, resulting in a total funding of EUR90 million.
Deloitte Romania’s financial advisory team, which provided assistance services in attracting the financing, was made up of Radu Dumitrescu, Financial Advisory Coordinating Partner, Florin Paunescu, Corporate Finance Director, which coordinated the entire project, Angelos Fragkos, Manager, Ruxandra Vasile, Associate, and Mihai Gradinescu, Associate.
The Reff & Asociatii Î Deloitte Legal team, which provided legal assistance for the negotiation and signing of the financing documents, was made up of Andrei Burz-Pinzaru, Partner, Patricia Enache, Managing Associate, and Danut Arion, Associate, and with the contribution of Nicholas Coddington, Partner within Deloitte Legal Poland.