The Romanian Commercial Bank (BCR), EximBank and BT (Banca Transilvania) provided Pehart Tec Group, one of the biggest producer of tissue paper in Eastern Europe, with an EUR 24 million syndicated loan. The company owns two production platforms in Dej (Cluj county) and Sebeş (Alba county), says Business-Review.eu.
Pehart Tec Group, controlled by investment fund Abris Capital Partners, in partnership with Romanian businessman Ioan Tecar, received a multi currency revolving credit facility of EUR 24 million from a syndicate of banks comprising BCR, EximBank and Banca Transilvania, according to TransylvaniaToday.ro.
The credit facility has a maturity of three years with the option of extension for two years and will be used by Pehart Tec Group to partially refinance current credits and to cover working capital needs. As part of the funding, BCR acts as coordinator, mandated lead arranger, and agent. Moreover, BCR and Banca Transilvania also provided Pehart Tec Group with bilateral funding to the tune of EUR 19 million in the past for the extension and modernization of production capacity.
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