EnglishThe European Bank for Reconstruction and Development (EBRD) has granted a syndicated loan of 180 million Euros to Alro, the Romanian division of the major European aluminum producer for refinancing. The loan will allow Alro to focus on production and improving its energy efficiency, a press release sent to our editors states. This will also improve the company"s cashflow, helping Alro finance its investment program.
Alro is a company listed on the Bucharest Stock Exchange and has over 3,300 employees. The majority stake of the company is held by Vimetco NV, a vertically integrated company that produces aluminum and processed aluminum products.
The financing package is issued in the form of a A/B loan, under which the EBRD will pay out 75 million dollars, whereas the remaining 105 million dollars is syndicated by commercial banks.
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