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CMS Advises BCR and Erste on EUR 100 Million Financing for Cerealcom

CMS Advises BCR and Erste on EUR 100 Million Financing for Cerealcom

Romania
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CMS has advised mandated lead arrangers Banca Comerciala Romana and Erste Group Bank AG on their EUR 100 million revolving credit facility for Romania's Cerealcom.

Cerealcom is a Dolj county-based grain and oilseed producer farming around 25,000 hectares of land.

BCR also acted as documentation and security agent for the deal and participated with EUR 70 million, while Erste provided the remaining EUR 30 million. According to BCR's statement, the financing will support the operation of a modern logistics base, but also the expansion of the purchase base and the export of grains. The loan also includes an accordion clause, which will allow the company to access a EUR 50 million funding increase.

"Sustainable financing of the agribusiness sector is a priority for food security and safety, and Cerealcom is one of the most active producers and exporters of cereals and oilseeds in Romania, which signed a club loan financing for the first time," BCR Senior Banker-Loan Syndication Gratia Popescu commented. "This credit also includes an accordion clause, which offers the possibility of an increase and the attraction of new financiers."

The CMS team included Partner Ana Radnev, Senior Associate Tudor Naftica, Lawyer Dan Patrascu, and Junior Associate Florian Pacalici.

CMS did not respond to our inquiry on the matter.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

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