Syndicated loan of 24 million euros for Pehart Tec Grup

The syndicate of banks formed by Banca Comerciala Romana, EximBank and Banca Transilvania grants Pehart Tec Grup, the largest tissue paper producer in Romania, a multi-currency revolving credit facility of EUR 24 million.

Details:

• The amount is intended to partially refinance Pehart Tec Grup's existing loans and to cover working capital needs.
• The credit facility has a maturity of three years, with the option of a two-year extension.
• Nestor Nestor Diculescu Kingston Petersen (NNDKP) were the syndicate's lawyers and Clifford Chance Badea, the local office of the international law firm Clifford Chance, assisted the investment fund Abris Capital Partners and Pehart Tec Grup.
• Pehart Tec Grup was founded by businessman Ioan Tecar in 2007, and in 2015 the investment fund Abris Capital Partners acquired the controlling stake.
• The group has two production platforms in Dej and Sebes, producing 100,000 tons of tissue paper per year and 30,000 tons of finished product per year. Pehart Tec Group products are marketed in Romania and in Central and South-Eastern Europe.

Pehart Tec Grup has received bilateral financing - from BT and another Romanian bank - totalling approximately 19 million euros for the expansion and modernisation of its production capacities.