Bucharest, 30 January 2017 – Pehart Tec Grup, controlled by Abris Capital Partners investment fund, in a partnership with businessman Ioan Tecar, contracted a revolving multi-currency credit facility accounting for €24 mn. from a bank syndicate composed of Banca Comercială Română, EximBank and Banca Transilvania.
The credit facility has a maturity of three years that may be extended by two years and Pehart Tec Grup will use it to partially refinance its existent credits and to cover its operating capital needs. BCR serves as Coordinator, Principal Mandated Arranger and Agent as part of this deal. Also, BCR and Banca Transilvania have granted Pehart Tec Grup other bilateral loans totalling approximately €19 mn., used for the investments performed in the last years to extend and to upgrade the production capacities.
Nestor Nestor Diculescu Kingston Petersen (NNDKP) was the legal advisor to the bank syndicate, and Clifford Chance Badea, the local office of the international law firm Clifford Chance, assisted Abris Capital Partners and Pehart Tec Grup.
About Pehart Tec Grup:
Pehart Tec Grup is one of the greatest tissue paper manufacturers in Romania and one of the most important in Eastern and Southern Europe. The group was founded by Mr. Ioan Tecar in 2007, and in June 2015, the investment fund Abris Capital Partners purchased the controlling package.
The group works on two production platforms located in Dej (Cluj County) and Sebeș (Alba County), having a production capacity of 100,000 year tons of tissue paper and, respectively 30.000 tons of finished products (toilet paper, kitchen towels, napkins). Pehart Tec Grup sells its products on the domestic market and on Eastern and Southern Europe market.
About the bank syndicate:
Banca Comercială Română
Banca Comercială Română (BCR), a member of Erste Group, is the most important financial group in Romania providing universal bank operations (retail, corporate & investment banking, treasury and capital markets), and including specialty companies working on the leasing market, private pensions and housing banks. BCR is Romania’s No. 1 bank in terms of asset value (14,4 mld EUR), in terms of client base and in terms of saving and crediting. BCR is also Romania’s most important financial brand, judging by the client trust rate and by the number of persons who consider that BCR is their main banking partner.
BCR uses a network of 22 corporate business centres and 23 mobile offices dedicated to corporate clients and 510 retail units located in most communities inhabited by at least 10.000 citizens.
BCR is Romania’s No.1 bank running on the banking transactions market, since BCR customers have the largest ATM network at their disposal - over 2000 ATMs and 13.500 POS payment terminals enabling customers to use their cards for shopping purposes, as well as complete Internet banking, Mobile Banking, Phone-banking and E-commerce services.
Erste Group is one of the main suppliers of financial services in Eastern European Union. About 46700 of bank officers working in 2.700 branches in seven countries. (Austria, the Czech Republic, Slovakia, Romania, Hungary, Croatia, Serbia) assist 15,9 mn. Customers. At the end of the third semester from 2016, Erste Group reported a total asset accounting for 206,8 billion EUR, registered a net profit of 1,18 billion EUR, as well as a value of the common capital rank 1 (Basel 3 completely implemented) at 13,2%
Exim Bank has been actively involving itself for almost 25 years in supporting and promoting the Romanian business community, supporting the projects of local companies. Having fine-tuned its courses of action, which it has developed in order to adapt itself to the economic developments, Exim Bank has today the capacity to propose to the corporate segment a portfolio of products and services attractive to any type of business, SME or large company that runs international transactions or only deals with the domestic market. Over the past few years, the bank has focused on breathing some new life into its complementary banking services, on developing and strengthening its the treasury products portfolio, cash management, trade finance and factoring, which now complement the finance tender.
At the same time, because it acts as an agent of the state on the Romanian guarantees and insurance market, EximBank is the principal connection through which the public funds that the Romanian state has at its disposal are injected in the real economy, support the competitiveness growth of the local companies.
EximBank operates a commercial network of 20 units, and for details related to the products portfolio: www.eximbank.ro or email@example.com.
Banca Transilvania is one of Romania’s three largest banks, according to its asset pool. Its business is broken down into three main business lines: Corporate, SME and Retail. BT has over 7.300 employees, 550 offices and 2,2 mn. clients. The bank’s strategy is sustained by international shareholders, the European Bank for Reconstruction and Development (EBRD) and IFC - World Bank. BT received the “The best Romanian Bank” award from the international publication Euromoney, in 2016.
Nestor Nestor Diculescu Kingston Petersen
NNDKP is recognized as the pioneer of business law in Romania; renowned specialty guides have constantly placed this firm on top positions in various legal practice areas, over the past 15 years.
With more than 150 lawyers and legal advisers, NNDKP provides integrated legal assistance services and tax consulting at the highest quality standards. The NNDKP team of banking law and finance advisers is hired frequently by financial institutions and investment banks that need to run complex transactions, including syndicated loans, flotation of shares and financing projects; many of these deals have been conducted for the first time in Romania.
Clifford Chance Badea
Clifford Chance, world’s No.1 law firm, according to Chambers Global Top 30 2016, has been present in Romania since 2016 and nowadays works under the name Clifford Chance Badea. Their Bucharest office constantly is constantly involved in complex syndicated loan transactions, financing, restructuring, Eurobonds and shares on international capital market, financial derivatives, company acquisitions by strategic investors or private equity funds, infrastructure and highways projects, real estate investments, as well as domestic and international litigation and arbitration.