The banking syndicate comprising Banca Comerciala Romana, EximBank and Banca Transilvania has decided to grant Pehart Tec Grup, the largest tissue paper producer in Romania, a revolving multicurrency credit facility worth 24 million Euro.
The amount is granted in order to partially refinance the current loans of Pehart Tec Grup and to cover working capital needs.
The credit facility has a 3-year maturity, with an extension option of 2 years.
The law firm Nestor Nestor Diculescu Kingston Peterson (NNDKP) represented the banking syndicate, while Clifford Chance Badea, the local office of the international law firm Clifford Chance, provided assistance to the investment fund Abris Capital Partners and to 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 control package.
The group has 2 production platforms in Dej and Sebes, manufacturing 100.000 tons of tissue paper/ year, respectively 30.000 tons of finished product. The products of Pehart Tec Grup are sold in Romania, as well as other countries in Central and South-Eastern Europe.
Pehart Tec Grup has also benefited from bilateral funding – from BT and another bank in Romania – amounting to a total of 19 million Euro, used to extend and modernize the group’s production capabilities.