KMGI extended a USD 360 million credit line by 2021

The KMG International Group (KMGI) has amended and extended its USD 360 million multicurrency revolving credit facility on Friday, 20 April 2018. The amended maturity of this loan is 3 years with two 1-year extension options, which the company has the ability to apply for.

This loan it was arranged by a syndicate of banks, comprising the following 4 Mandated Lead Arrangers that provided the amount in equal proportions: ING Bank N.V. through ING Bank N.V– Bucharest Branch, Banca Comerciala Romana, Raiffeisen Bank SA and UniCredit Bank SA.  ING Bank N.V. – Bucharest Branch was acting as Co-ordinating Mandated Lead Arranger and as documentation agent, UniCredit Bank AG, London Branch was acting as facility agent and UniCredit Bank SA as issuing bank, security and paying agent.

Allen & Overy LLP and Radu Tărăcilă Pădurari Retevoescu SCA in association with Allen & Overy LLP acted as legal advisors to the banks.

The credit facility, guaranteed by KMG International, will be used by Rompetrol Rafinare, Rompetrol Downstream, KazMunayGas Trading and KMG Rompetrol for their general financing needs and for the creation of an efficient operating environment ensuring smooth running of their business.

This loan has re-confirmed the important partnership established between KMG International and the 4 banks, which is also a further evidence of trust, respect and recognition, extended by the lenders to the company. With the high value of the loan as well as its complexity, this transaction offers a number of utilization possibilities so that the various company needs could be met most efficiently and effectively.

Fully owned by the national oil and gas company of Kazakhastan - KazMunayGas, KMG International is an integrated oil group with headquarters in Amsterdam, which owns and carries out major operations in refining, petrochemicals, retail and trading in 11 main markets. The retail network includes 1100 fueling points in Georgia, Bulgaria, Moldova and Romania, where the Group owns two refineries - Petromidia Năvodari and Vega Ploiesti.

KMGI has achieved very good operating and financial results during 2017 which represents a remarkable record for the last 40 years since Rompetrol and Petromidia were established but also 10 years since the company was acquired by KazMunayGas.

The 2017 operating result (EBITDA) was USD 242 million – 20% higher than in 2016 and 3 times higher than in 2012 (USD 79 million). Likewise, the net result for 2017 was USD 80 million or 6 times higher than the one achieved in 2016 –versus USD 208 million loss recorded in 2012.

KMG International is striving to maintain the same positive trend with excellent operating and financial results in the years to come.

Corporate Communication and Public Relation Department

KMG International