Eastern European agricultural commodities group Transoil has renewed its borrowing base facility for US$200mn through a syndicate of eight banks.

The deal, signed on June 30, will enable Transoil to buy commodities from the 2023 crop in Romania and Moldova.

ING is the bookrunning mandated lead arranger, facility agent and security agent on the deal, while OTP Bank Moldova is the local bank. Black Sea Trade and Development Bank, Citi, Fimbank, Dutch development finance institution FMO, OTP Bank Hungary, Raiffeisen Bank International and UniCredit are additional lenders.

Transoil says the US$200mn limit is a 30% jump on the previous year, “further demonstrating Transoil Group’s ability to raise capital required for its operations on the international debt markets, despite the current geopolitical risks associated with the Black Sea region”.

The Chişinău-headquartered company specialises in grains and oilseeds. It has processing and storage facilities in Romania, Moldova and Serbia and a trading operation spanning Europe, the Mediterranean, the Middle East, Asia and Latin America.