Who lent 100m euros to A&D Pharma

BCR, BRD, Citi, Unicredit and RBS have signed a three-year, 100m-euro financing agreement with A&D Pharma, industry sources told ZF. The funding came as a club loan (more flexible and simpler than a syndicated credit or a eurobond issue), the same variant having been used, for instance, by the Finance Ministry for attracting money from banks. Each bank will come up with 20 million euros.

The pharmaceutical group is thus refinancing a credit line of a similar value, contracted in 2006 and which was used for current operations. At that time, A&D Pharma took a syndicated credit from a banking consortium that included Citibank (the loan arranger), Alpha Bank (the London branch), Banca Romaneasca, EFG Private Bank (Luxembourg), BRD Group Société Générale, Bank Austria Creditanstalt/HVB Bank, ING Bank, Investkredit Bank, MKB Bank (the London branch), Piraeus Bank, and Raiffeisen Bank Romania. A&D Pharma posted H1 profit worth 9.2 million euros and turnover amounting to 232.9 million euros. Group officials would not comment on the loan information.