BCR and Erste Group to finance the Cerealcom Group with 100 million euros
BCR arranged, together with Erste Group, a club loan financing for the Cerealcom Group in the total amount of 100 million euros, the bank informs in a press release, told Agerpres.
The financing will support the operation of a modern logistics base, but also the expansion of the acquisition base and the export of cereals. The credit also includes an accordion-type clause, which will allow the company to access a financing increase of 50 million euros.
BCR and Erste Group Bank AG acted as Mandated Principal Arrangers, and BCR also acted as Documentation Agent and Guarantee and Payment Agent.
In the Cerealcom loan, BCR participates with 70 million euros, and Erste Group Bank AG with 30 million euros. The loan has a final maturity in 2025 and is intended to finance the current activity and the development of specific projects.
"BCR is a long-term partner, and this syndicated financing that we access comes to support their expertise in agribusiness. Our collaboration of over 20 years has been strengthened by BCR's willingness to understand the essence of economic processes in the agricultural industry, but also of permanent suitability to the market by developing flexible and efficient banking products. For Cerealcom, every interaction with BCR meant trust that we can do more and better together. It is an example of the support that the bank shows not only to its customers, but and essential industries," said Anghel Mihai, CEO of Cerealcom.
For her part, Ana-Maria Samuila, Head of Agribusiness & Food BCR, mentioned that the bank supports the development of Romania's agricultural potential.
"We are honored to be able to support a business of the magnitude of the Cerealcom Group in its strategy of consolidating its position at the local level, as well as for the diversification of grain marketing channels. This transaction is the result of a long collaboration based on trust, consistency and seriousness. We believe in and support the development of Romania's agricultural potential and we are happy to be partners for one of the most successful Romanian businesses in the agribusiness sector. BCR is with local entrepreneurs, invests and supports them in their desire to support a competitive economy," said Ana-Maria Samuila.
BCR offers a complete range of financial products and services, through a network of 20 business centers and 16 mobile offices dedicated to companies and 319 retail units located in most cities in the country with over 10,000 inhabitants, 40% of which are units where cash operations are carried out only at equipment (cashless).
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