BCR coordinated a 846 million RON syndicated loan for Carmistin Group

Carmistin Group, one of Romania’s leading food producers, signed a 846 million RON syndicated loan, following the amendment and increase by RON 218 million of the existing facilities. The credit will be used by Carmistin Group companies to support their investment and sustainable development strategy, and also for the extension by two additional years of their working capital facilities.

Banca Comercială Română SA acted as Coordinator, Mandated Lead Arranger, Bookrunner, Documentation, Facility and Security Agent, alongside CEC Bank as Mandated Lead Arranger, and other participating banks – OTP Bank,  EximBank, First Bank, and Intesa Sanpaolo Bank.

PCF Investment Banking acted as the exclusive financial advisor of Carmistin Group for the structuring, negotiation and implementation of the financing facility.

The loan will be used for multiple purposes, from financing the increase production capacity, product portfolio diversification, product quality improvement, and for two new investment projects, aimed to produce electricity and thermal energy in cogeneration system for Carmistin Group companies’ consumption.

“Performance and continuous development are part of Carmistin Group DNA, being supported by investment plans adapted to global markets requirements. We need this kind of vision and strategic actions to develop agri-food products with high added value, and to support Romania’s rural development, as globally, one of the most pressing themes in 2022 was the food security contribution through increased sustainable production, new supply chains, multilateralism, and solidarity,” said Ana-Maria Samuilă, Head of Agribusiness & Food BCR.

“Romania has tremendous growth potential in the agribusiness sector, and we believe and encourage the  financing of environmentally and socially responsible business across supply chains. The amendment and increase of the syndicated loan for Carmistin Group  for new investments in modernization projects, organic farming and energy efficiency, strengthens the company’s position in the region and enhance its relevance on the international  market,” said Grația Popescu, Senior Banker Loan Syndication BCR.

Despite the last year wabbly economic context, Carmistin has continued its development strategy, with the advantage of vertical integration and covering all the necessary stages of food production, from hatching and feeding to meat processing and distribution. “This level of integration allows us to control production costs, increase efficiency and adapt to new market circumstances. Our organization has the potential to become a major player in the regional and global agribusiness sector and it is important to have the support of our partner banks so that we can ensure international competitiveness and implement sustainable development policies,” said Cristina Anghel, Finance Coordinator Carmistin.