The Romanian group Alro Slatina (ALR), one of the largest vertically integrated aluminum producers in Europe in terms of production capacity, has extended until 2023 two syndicated credit facilities totaling 150 million euros. dollars.
The public lender EximBank coordinated this facility for the first time.
The banking syndicate includes nine other financial institutions – Unicredit Bank, OTP Bank Romania, ING Bank, Raiffeisen Bank, CEC Bank, Intesa Sanpaolo Romania, Banca Transilvania, Garanti Bank and the International Bank for Economic Cooperation.
Law firms Simmons & Simmons and Zamfirescu Racoti Vasile & Partners advised Alro in this transaction while the banking syndicate was represented by Allen & Overy and Radu Taracila Padurari Retevoescu (RTPR).
“This year we were faced with a new economic paradigm which impacted the global economy and required us to implement a rapid and complex anti-crisis program which produced very good results and enabled us to remain competitive in a very difficult international market ”, declared Marian Nastase, Chairman of the Board of Directors of Alro.
“The extension of the credit facility, coordinated by EximBank and including highly reputable and solid financial institutions, is further proof of Alro’s stability and determination to pursue a long-term development program that will ensure continuity. activities despite the change in the economic environment. ,” he added.
The line of credit will support Alro’s strategy to develop a portfolio of high and very high added value products for sophisticated industries and will pursue its plans to implement cutting-edge technologies and achieve climate neutrality, in line with the latest developments. in this domain.
Alro is listed on the Bucharest Stock Exchange and has a market capitalization of 320 million euros.
(Photo courtesy of the company)