Deutsche Bank AG London and EFG Telesis Finance SA, Athens have been jointly mandated to arrange a five-year US$120mn syndicated trade-related term loan facility for 22 Romanian thermal power plants. The loan is fully guaranteed by the Ministry of Public Finances of Romania and proceeds will be used to finance the borrowers” purchases of gas, oil and coal.
Banc Post, Bucharest has joined the facility as lead arranger. The mandated lead arrangers will shortly be launching the deal into general syndication.
Repayment is amortising quarterly with a two-year grace period. The margin is 1.85% pa for years one-three; 2.15% pa for years four and five.