ALRO S.A., one of the largest vertically integrated aluminium producers in Europe, measured by production capacity, extended until 2023, two syndicated credit facilities cumulating USD 150 million, under the coordination of EximBank.
The banks syndicate included Unicredit Bank, OTP Bank Romania, EximBank, ING Bank Bucharest Branch, Raiffeisen Bank, Intesa Sanpaolo Romania, CEC Bank, Banca Transilvania, Garanti Bank, the International Bank for Economic Cooperation and was legally advised by Allen & Overy (Attila Csongrady, Counsel and Peter Redo, Senior Associate) and Radu Tărăcilă Pădurari Retevoescu SCA (Victor Pădurari, Partner, Andreea Burtoiu, Counsel, Lia Ilie, Associate and Andrea Stoiciu, Associate).
In its turn, ALRO was legally advised in this transaction by Simmons & Simmons (Corinne Noel, Of Counsel, with the support from Andrew Petry, Partner) and Zamfirescu Racoți Vasile & Partners (Ioana Racoți, Senior Partner, Elena Iacob, Partner and Oana Dragomir, Senior Associate).
“This year we faced a new economic paradigm that impacted the entire international economy and forced us to implement a swift and complex anti-crisis programme that showed very good results and allowed us to remain competitive in a very tough international market”, said Marian NĂSTASE, Chairman of the Board of Directors, ALRO. The extension of the credit facility, coordinated by EximBank and including very reputable and strong financial institutions, is yet another proof of ALRO’s stability and determination in running long-term development programme that will ensure the business continuity despite the change in the economic environment."
The credit line aims to sustain ALRO’s strategy to develop products portfolio with high and very high value-added products for sophisticated industries and to continue the Company’s plans to implement state of the art technologies to reach a climate neutrality, in line with the latest developments in this area.
This year, ALRO managed to ensure the business continuity in safe and profitable conditions, while implementing an anti-crisis programme that showed good results and allowed the Company to remain competitive on the EU and international markets, keep all production sites operational and maintaining a safe work environment for its employees, despite the new reality faced by humanity all around the world.