Initially structured as the first bond issue of a Romanian company on the international capital markets, the transaction was decisively influenced by the Asian financial crisis in 1996 and by the Romanian political instability in 1997 marked by the fall of Ciorbea cabinet.

We initially structured a bond issue of USD 80,000,000 that finally resulted into USD 20,000,000 bridge finance with SBC WARBURG DILLON READ as a result of the adverse investment climate at that time. The financing’s purpose was to modernize the cracking and distilling towers.

Based on SvWP’s knowledge and experience to create a successful financing package, our client relied on our advice when the internal growth of the company created a need for specialized financing. For this assignment, SvWP offered the most economically attractive and flexible structures consistent with the market conditions existent at that time and management objectives. Most important, SvWP assisted OLTCHIM during all stages of the projects, offering maximum flexibility during the formulation of financing proposals and the negotiation with the financing institutions.