Romanian aluminum producer wants USD 207 mln loans

Romanian aluminum producer Alro Slatina is currently looking for over USD 207 million in financing.

The biggest of these is a USD 120 million revolving credit facility to refinance a loan that it received from the European Bank for Reconstruction and Development (EBRD) in 2010. Alro has parent-group Vimetco’s guarantee for the revolving loan which will come from a syndicate of banks.

The aluminum producer also wants to get USD 60 million from the Black Sea Trade and Development Bank and other creditors, planning to use the money for new investments. Alro will also get USD 27.2 million from Raiffeisen Bank Romania to pay some of its debt.

The company’s shareholders will analyze and vote on these loans on July 10.

Alro Slatina posted a turnover of some USD 594 million and a USD 33 million loss in 2014. The company plans to return to profit this year and has an investment budget of USD 59 million.

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