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Clifford Chance Badea Advises on USD 531.8 Million Syndicated Loan Facility for KMG International

Clifford Chance Badea Advises on USD 531.8 Million Syndicated Loan Facility for KMG International

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Clifford Chance Badea has advised a bank syndicate coordinated by Banca Comerciala Romana on the USD 531.8 million syndicated loan facility – which can be increased to USD 600 million – for three KMG International Group companies in Romania: Rompetrol Rafinare, Rompetrol Downstream, and KMG Rompetrol.

According to Clifford Chance Badea, “the bank syndicate included Banca Comerciala Romana, who acted as the coordinator, mandated lead arranger, bookrunner, documentation, facility and security agent, and lender, alongside ING Bank through ING Bank Amsterdam-Bucharest Branch, Raiffeisen Bank, and UniCredit Bank, as mandated lead arrangers and lenders, Alpha Bank Romania as arranger and lender, and Garanti Bank and OTP Bank Romania as lenders.”

Rompetrol Rafinare is the operator of the Petromidia Navodari and Vega Ploiesti refineries. Rompetrol Downstream is the retail division of Rompetrol. KMG Rompetrol is the management arm of the group in Romania.

According to the firm, “the new syndicated facility will be used by the Romanian entities within the KMG International Group to finance working capital and support the expansion strategy of commercial operations, including to refinance the existing syndicated loan of USD 435 million.”

Clifford Chance Badea’s team was led by Counsel Andreea Sisman and included Senior Associate Madalina Mailat and Lawyer Nicolae Grasu alongside further team members in Amsterdam, Munich, and Bucharest.

Clifford Chance did not respond to our inquiry on the matter.

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Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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