Citi has arranged EUR 80 million syndication for Fildas

Publish date: Astazi, 21-03-2007
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Citibank Romania S.A, Fildas Group and Deloitte Romania announce the successful closing of EUR 80 million syndicated loan for Fildas Group, a leading local pharmaceutical wholesaler and retailer, and its subsidiaries. The facility has a 5 year maturity and it will be used for financing Fildas' working capital needs, and its investment plans.

"For Fildas today is graduation day! The figures speak for themselves: from $ 2 mio we have reached $ 200 mio in sales after 15 years and a nation wide network of pharma wholesale and retail. Two world leading financial institutions, the excellent team of advisors from Deloitte and one of the most prestigious and dynamic international banks, Citi - gave the green light to a unique loan syndication for Romania. Why unique? Because Fildas is 100% privately owned by a Romanian entrepreneur and that entrepreneur happens to be a woman", says Anca Vlad, Fildas Group President.

"Analysts predict and we confirm that the market will continue to grow by over 15% yearly. This syndication will provide us the necessary financial resources to position ourselves as leaders in the market. Fildas Group has always been dedicated to health and beauty. Its slogan "The Name of Health in Romania" expresses our vision. We reassure our suppliers and customers that we will keep up the good work. I thank my dedicated team, my advisors and my bankers for this success!", added Anca Vlad.

"This deal demonstrates the confidence of global banks in Romanian entrepreneurs in general and pharmaceutical companies in specific, especially when such transactions are led, and advised by internationally reputed players such as Citi and Deloitte and partnered with local success stories such as Fildas", says Shahmir Khaliq, Citi Country Officer in Romania.

"Citi has proven once again to be a leader in the Romanian syndicated loan market, having the facility almost twice oversubscribed from the initial amount of EUR 60 million and finally closed at EUR 80 million". "Citi will continue to focus on lending its name, expertise and balance sheet to strong local players, providing value added solutions to help local corporates, multinationals and SMEs operating in Romania to implement their strategies in light of the EU accession".

"We are glad we could provide our already proven qualitative financial advisory to a Romanian firm in accessing the sophisticated syndication market. We have again demonstrated  with this landmark deal that we provide consistent and complex professional support to our customers. We take pride that Fildas, an outstanding local company, strongly managed by its owner, Mrs. Anca Vlad, has chosen us against sound competition, to advise and sustain the company in closing such an important deal", says George Mucibabici, the Chairman of Deloitte Romania.

"We praise Citi, the chosen arranger, for its professionalism and reliability displayed during the pursuit to the successful conclusion of the deal. We will continue to bring such success stories to the local market aiming to become a leader in the advisory business. Our focus will be to further provide combined international excellence with local knowledge to our customers in Romania" added George Mucibabici.

The syndicated members are Alpha Bank Romania, Banc Post, Citibank Romania, Garanti Bank, HVB Tiriac, Investkredit Bank, OTP Bank, Piraeus Bank, Raiffeisen Bank, BRD Societe Generale, Unicredit Romania.

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