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BUCHAREST (Romania), July 16 (SeeNews) - Swiss group Ameropa has signed a 324 million euro ($365 million) senior secured multicurrency revolving credit facility with a syndicate of four Romanian banks, Banca Comerciala Romana (BCR) said on Tuesday.
The facility, whose tenor may be extended up to three years, will be used by Azomures, Ameropa Grains and Chimpex to consolidate and increase their financial debt book by refinancing the existing bilateral facilities and financing new working capital needs, BCR said in a press release.
The facility consists of two tranches, a revolving credit facility and a tranche that may be used by way of ancillary facilities for several purposes, including overdraft facilities, bank guarantees or letters of credit.
The syndicate comprises BCR and Raiffeisen Bank as joint initial mandated lead arrangers, bookrunners and structuring banks, together with ING Bank N.V. Amsterdam – Bucharest Branch and UniCredit Bank as mandated lead arrangers and lenders. BCR also acted as facility and security agent and documentation agent.
This syndicated loan offers several utilisation possibilities in order to meet efficiently the future needs of Ameropa in Romania and to support its expansion.
"We are very pleased to have successfully signed this new facility. In addition to refinancing existing lines into one single syndicated facility, it allows the Romanian entities of the Ameropa group to substantially increase their bank financing capabilities. The success of this transaction demonstrates the high quality of the group’s operations in Romania and the strength of its relationship with banks, all of which are also lenders to the group at a global level," Ameropa CEO Andreas Zivy said.
Founded in 1948, Ameropa in Binningen near Basel is a privately owned Swiss production and trading company in the fields of grains and fertilizers.
($= 0.8865 euro)