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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

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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.

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