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Chimcomplex has concluded financing contracts of EUR 56.7 million with CEC Bank and Alpha Bank for the full refinancing of existing loans

Chimcomplex SA Borzești concluded on September 30, 2021, funding contracts of 56.7 million EURO, which include things like 26.7 million EURO from CEC Financial institution and 30 million EURO from Alpha Bank. They will be applied for the entire refinancing of the present financial loans from VTB and Credit score Suisse/Argentum Netherlands BV and for the continuation of improvement jobs. In Oct 2021, CEC Bank will dietary supplement the funding with the amount of 33.3 million EURO, the negotiations acquiring by now been concluded.


The company is looking at setting up investment decision projects with an outcome in cutting down the carbon footprint and growing vitality efficiency: the construction of a large-performance cogeneration potential for gasoline and hydrogen (mounted electricity of 55 MWe 4 turbines) the completion of the new polyol generation line that will enable the doubling of existing volumes and the modernization of the electrolysis plants that will strengthen the company’s placement as a national leader in the production of hydrogen from h2o. At the identical time, the emphasis is on digitalization and the start out of inexperienced chemistry assignments by means of which a new section with sustainable goods will open in the company’s portfolio. Chimcomplex is also thinking about accessing other funding on the international marketplace for expense enhancement.

Soon after having more than Oltchim’s property in 2018, Chimcomplex SA Borzești grew to become the biggest producer of substances in Romania and has ongoing a method of transformation and sustained progress.

“The completion of the refinancing is a considerable phase for Chimcomplex and marks a new era for the organization. It’s the culmination of meticulous and concentrated efforts over the past two and a fifty percent decades to reshape the enterprise. I thank the partners Credit score Suisse Zurich and VTB Frankfurt for becoming a member of us in 2018, in a unique bank loan transaction of 164 million euros, for the acquisition of Oltchim. I also thank the associates of CEC Financial institution and Alpha Financial institution for their professionalism and availability to assistance a Romanian company. I thank Deloitte, Reff and Associates, as perfectly as Lazarovici & Associates for currently being there for us.“, reported Ștefan Vuza, Chairman of Chimcomplex.

The funding granted by CEC Bank contains a phrase bank loan facility in the volume of 20 million EURO and a revolving credit facility of 6.7 million EURO, which will reach the greatest ceiling of EUR 40 million.

As for the 30 million EURO financing acquired by Chimcomplex SA Borzești from Alpha Lender Romania, it consists of a expression personal loan facility.

The advisors for Chimcomplex SA Borzești in attracting this funding were being Deloitte Romania’s specialists in the Money Advisory observe.

Soon after the transaction in 2018, of funding the Oltchim acquisition, we are honored to have been again with Ștefan Vuza and Chimcomplex in a different reference venture. I congratulate our multidisciplinary workforce of monetary advisors and attorneys, who have labored intensively and dedicatedly to construction this aggressive procedure of deciding upon financiers, through a project that lasted seven months,” stated George Mucibabici, Chairman of Deloitte Romania, who coordinated Deloitte’s involvement in this transaction.

Lawful aid for negotiation and signature of the financing documentation was offered by the attorneys of Reff & Associates | Deloitte Lawful and Lazarovici & Associates.

We are happy that we were all over again with one of the greatest organizations owned by a Romanian entrepreneur, in a large-scale financing. It is a affirmation of the recognition appreciated by our expertise in the area of lender funding and a validation of our focus in accompanying providers with Romanian money in complex transactions, which require equally understanding of area legal aspects and global greatest methods in the area. Thank you to Chimcomplex for your belief and great luck in the potential!“, stated Andrei Burz-Pînzaru, Spouse Reff & Associates | Deloitte Authorized.

“The prosperous completion of this venture has produced a robust staff involving many significant providers. We will all continue to draw inspiration from the accomplishment of Chimcomplex. Lazarovici & Associates will keep on to be a dependable husband or wife for Chimcomplex, stated Amalia Lazarovici, Associate of Lazarovici & Associates