The European Bank for Reconstruction and Development (EBRD) is providing a syndicated US$180mn refinancing package to Romanian aluminium producer Alro.
The loan is structured under the EBRD’s A/B loan scheme, with the development bank offering US$75mn from its own financing and syndicating the remaining US$105mn to commercial banks.
The funding will be used to refinance and restructure the aluminium firm’s existing debt, which in turn will improve product quality and energy efficiency within Alro.
Marian Nastase, vice-president of the board at Alro, comments: “The EBRD facility offers Alro a good basis for continuing its development strategy by further consolidating its financing structure. We are pleased with the outcome of the negotiations as it recognises the soundness of our business, the potential for growth and the solidity of our programme for overcoming the effects of the international crisis.”
This loan brings the EBRD’s total commitments to Romania to €4.7bn (US$6.1bn).
Last Updated August 11, 2010
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