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Rompetrol Rafinare and other three companies of KMG borrow 390 million dollars from four banks
Rompetrol Rafinare (RRC) Rompetrol Downstream, KazMunay Gas Trading AG and KMG Rompetrol intend to sign for a loan of 390 million dollars from BCR, Unicredit Tiriac Bank ,Raiffeisen and ING Bank, the funds being destined to the refinancing of some loans and current operations.
The four companies are part of the Kazah group KMG International, the loan guarantor.
The loan represents a multicurrency facility – dollars, lei or euro – and is offered by the BCR, UniCredit Tiriac Bank, Raiffeisen Bank and ING Bank NV – the Bucuresti Branch.
The loan cannot be used by the four companies of KMG International, guarantor of the loan, for long-term financing of the investment projects, acquisitions and/or rents, the announcement shows.
The loan will be formed in two stages, an engaged facility, of up to 240 milion dollars and a maturity of three years and a unengaged facility of up to 150 million dollars valid for one year since signing the contract..Later, the duration of the unengaged facility can be extended for three years starting with the date of the signing of the contract.
The Kazah group KMG International is present through operations of refining, petrochemicals, retail, trading,upstream and industrial services in 12 countries. At international level, they own and operate over 1,000 distribution points of fuel in Romania, France, Spain, Bulgaria, Moldova and Georgia. IMG International is totally owned by the national company for oil and gas of Kazakhstan – KazMunayGas.
Rompetrol Rafinare announced on Monday that it recorded in 2014 of business figure of approximately 5.6billion dollars. Uprising by 15% against the result obtained in 2013, and the company reduced its loss by 39% at 58.44 million dollars.
In 2013, the company had a turnover of 4.9 billion dollars and a loss of 95.6 million dollars.
The shares of the company were rising by 1.2% on the Bucharest stock exchange at 0.0408 lei/unit, quotation at which the company has capitalisation of 1.8 billion lei(404,2 million euro)..
The financial consolidated situations of Rompetrol Rafinare include the results of Rompetrol Rafinare and those of subsidiaries Rompetrol Downstream, Rompetrol Gas,Rompetrol Quality Control, Rom Oil, Rompetrol Logistics and Rompetrol Petrochemicals.