Urgent Cargus courier company, controlled by Abris Capital Partners investment fund, received a syndicated credit of RON 134 million (EUR 29.3 million) from the Romanian Commercial Bank (BCR) and the Romanian subsidiary of Hungarian bank OTP Bank, the financial institutions announced in a press release.
BCR acts as coordinator, mandated lead arranger (MLA) and documentary, facility and guarantees agent, and OTP Bank Romania as MLA. At the same time, Tuca, Zbarcea and Asociatii acts as a legal advisor for the banks, while the beneficiary received legal advice from Clifford Chance Badea.
The loan has a 5 year maturity and was contracted to support the development of Urgent Cargus, including the refinancing of existing loans, the release reads.
The courier company was established in 1991 by a group of local entrepreneurs under ’Cargus’ name of and was the first private courier company in Romania.
Urgent Cargus owns and operates a national network of 72 units and warehouses across the country with a fleet of over 2,600 courier vehicles.