To extend the loan, the company, together with other subsidiaries of the group like KMG International NV, KMG Rompetrol S.R.L., Rompetrol Downstream S.R.L, KazMunayGas Trading AG, concluded a supplemental agreement on April 20, 2018 with four lenders: ING Bank N.V. – Bucharest Branch, Banca Comerciala Romana SA, Raiffeisen Bank S.A., and UniCredit Bank S.A., Rompetrol Rafinare said in a statement.
ING Bank N.V. – Bucharest Branch acted as Coordinating Mandated Lead Arranger and as documentation agent, UniCredit Bank AG, London Branch acted as facility agent and UniCredit Bank SA as issuing bank, security and paying agent.
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.
KMG International NV, owned 100% by the state company KazMunayGas from Kazakhstan, KMG International is an integrated oil group with headquarters in Amsterdam, which owns and carries out major operations in refining, petrochemicals, retail and trading in 11 main markets. The retail network includes 1,100 fueling points in Georgia, Bulgaria, Moldova and Romania, where the Group owns two refineries – Petromidia Navodari and Vega Ploiesti.
Rompetrol Rafinare is 48% owned by KMG International and the Romanian state holds 47%.