April 23 (SeeNews) - KMG International (KMGI), majority shareholder of Romania's Rompetrol Rafinare [BSE:RRC], said it has amended and extended its $360 million (293 million) multi-currency revolving credit facility to 2021.
The amended maturity of this loan is three years with two one-year extension options, which the company has the ability to apply for, KMGI said in a statement late on Friday.
The credit facility will be used by Rompetrol Rafinare, Rompetrol Downstream, KazMunayGas Trading and KMG Rompetrol for their general financing needs and for the creation of an efficient operating environment ensuring smooth running of their business.
The loan was arranged by a syndicate of banks comprising the four mandated lead arrangers that provided the amount in equal amounts: ING Bank N.V. through ING Bank N.V - Bucharest Branch, Banca Comerciala Romana, Raiffeisen Bank and UniCredit Bank.
Fully owned by the national oil and gas company of Kazakhastan - KazMunayGas, KMG International is an integrated oil group with headquarters in Amsterdam, which owns and carries out major operations in refining, petrochemicals, retail and trading in 11 main markets.
The group's retail network includes 1100 fuelling points in Georgia, Bulgaria, Moldova and Romania, where the group owns two oil refineries - Petromidia Navodari and Vega Ploiesti.
Rompetrol Rafinare shares last traded 3.26% higher at 0.0570 lei on Friday on the Bucharest Stock Exchange.
($= 0.8129 euro)
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