Romanian aluminium company receives USD 167 million credit facility
Alro S.A., the largest aluminium producer in Continental Europe (except Russia and Scandinavia), announced it recently signed three-year USD 167 million credit facility from eight banks.
The transaction and the club of eight banks was led by RBI Group (Raiffeisen Bank International and Raiffeisen Bank Romania acting jointly) as the sole Coordinator. The club includes OTP Bank Romania, Unicredit Bank, Banca Comercială Intesa Sanpaolo Romania, Banca Transilvania, Banca de Export-Import a României (Eximbank) and Garanti Bank.
“The deal extends with three years its existing USD 137 million revolving credit facility from December 2015 and adds a new USD 30 million letter of credit line,” according to company press release.
"This revolving facility aims funding the working capital needs of the Company, while the additional non-cash facility is intended to be used for issuing LCs and LGs to support both the operating and investing activities.”
The company has an installed production capacity of 265,000 tonnes per year.The main markets for the products manufactured by Alro are within the EU (Germany, Hungary, Poland, Greece and Romania). Alro also exports to the USA and Asia
Aluminium producer seeks Q1 premium of US$110/T from Japan buyers
Next articleHindalco best placed to weather the winter freeze
Grow with
AL Circle
