Deloitte Romania and Reff & Associates assisted Chimcomplex in obtaining the 90 million Euro funding for refinancing existing loans and for investment

A team made of experts from Deloitte Romania’s Financial Advisory practice and from Reff & Associates | Deloitte Legal provided assistance to Chimcomplex in obtaining the 90 million Euro funding for refinancing existing loans and for investment.

The chemicals producer borrowed 26.7 million Euro from CEC Bank and 30 million Euro from Alpha Bank on September 30, 2021, which the company will use for fully refinancing existing loans from VTB and Credit Suisse/Argentum Netherlands BV, for the takeover of Oltchim assets, and for continuing development projects. The 56.7 million Euro amount will be supplemented by a 33.3 million Euro loan from CEC Bank, which will be contracted in October 2021, totalling 90 million Euro.

”I thank Deloitte and Reff & Associates for being again by our side. Finalizing this refinancing is a significant step for Chimcomplex and it marks a new era for the company. It is the peak of meticulous and focused efforts that we have made over the past two and a half years to reshape the company. I thank our partners from Credit Suisse Zurich and VTB Frankfurt for being by our side in 2018, in the special transaction for obtaining the EUR 164 million loan for the takeover of Oltchim. I thank CEC Bank and Alpha Bank for their professionalism and their availabilty to support a Romanian entrepreneurial company,” said Stefan Vuza, President of Chimcomplex.

Deloitte Romania’s Financial Advisory team, which provided assistance in obtaining the financing, was made of Radu Dumitrescu, Partner-in-Charge, Florin Paunescu, Corporate Finance Director, which led the entire project, Angelos Fragkos, Manager, Ruxandra Vasile, Associate, and Mihai Gradinescu, Associate.

The Reff & Associates | Deloitte Legal team that worked on the project provided the legal assistance for negotiating and signing the financing documents and was made of Andrei Burz-Pinzaru, Partner, Patricia Enache, Managing Associate, and Danut Arion, Associate, with the contribution of Nicholas Coddington, Partner at Deloitte Legal Poland.