Romanian agribusiness group Carmistin gets 427 mln lei (90 mlm euro) syndicated loan

The loan will be used by over 20 companies of Carmistin Group for financing their investment projects, refinancing their existing bilateral financial debt, as well as for working capital needs, BCR, which acted as bookrunner and lead arranger of the loan, said in a press release.

The syndicate of banks also comprised CEC Bank, EximBank, Intesa Sanpaolo Romania and OTP Bank Romania.

"This project will allow Carmistin Group to continue its growth at an accelerated pace in its three main business streams: chicken, pork and feed manufacturing. Thus, we will enter a new development stage for both increasing the speed of the investment process and managing and operating our business lines," Carmistin Group general manager Andrei Brumaru said.

Founded in 2000 by the Paraschiv family, the Carmistin integrates 90% of the agrizootechnical production chain, starting from cultivation of cereals, feed production, animal husbandry to slaughter, processing and distribution of meat products and preparation, including in its own retail network.

Carmistin Group has over 20 companies operating in four production lines: chicken, pork, beef and agriculture.

(1 euro=4.8730 lei)