Romanian aluminium producer borrows USD 137 mln to refinance loan

Aluminium producer Alro has signed a USD 137 million revolving loan agreement with a syndicate of banks led by Raiffeisen International and Raiffeisen Bank Romania.

The company needs the money to refinance another USD 120 million revolving loan it took from the European Bank for Reconstruction and Development in 2010. The consortium bank also includes Unicredit Bank, OTP Bank, Eximbank, Garanti Bank, Intesa Bank, and Banca Transilvania.

Alro will guarantee the loan with its main assets, mortgage securities, mortgage rights, and compensation from insurance policies covering the company’s assets.

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