Alro has signed a three-year USD 167 million credit facility

Fri, 11/24/2017 - 08:30

Slatina, November 24, 2017 – Alro S.A. (BSE: ALR, „Company” or „Alro”), the largest aluminium producer in Continental Europe (except Russia and Scandinavia), has signed a three-year USD 167 million credit facility.

The deal extends with three years its existing USD 137 million revolving credit facility from December 2015 and adds a new USD 30 million letter of credit line. This revolving facility aims funding the working capital needs of the Company, while the additional non-cash facility is intended to be used for issuing LCs and LGs to support both the operating and investing activities. The commercial terms have been enhanced in several directions with a positive impact in the financial costs of the Company, as well.

The transaction and the club of eight banks have been led by RBI Group (Raiffeisen Bank International and Raiffeisen Bank Romania acting jointly) as the sole Coordinator.

The club consists further of OTP Bank Romania, Unicredit Bank, Banca Comercială Intesa Sanpaolo Romania, Banca Transilvania, Banca de Export-Import a României (Eximbank) and Garanti Bank.

For further information please contact:

www.alro.ro

Florenţa Ghiţă

Premium Communication

Bucureşti

Telefon +40 (0) 21 411 01 52

Email florenta.ghita@premiumpr.ro

 

 

Notes to the Editors:

Alro is subsidiary of Vimetco N.V., a global, vertically-integrated primary and processed aluminium producer. Alro is the largest aluminium producer in Continental Europe (excluding Russia and Scandinavia), having an installed production capacity of 265,000 tonnes per year.

The main markets for the products manufactured by Alro are within the EU (Germany, Hungary, Poland, Greece and Romania). Alro also exports to the USA and Asia. Alro is ISO 9001 certified for quality management and has NADCAP as well as EN 9100 certificates for aerospace production organizations. Alro’s products adhere to the quality standards for primary aluminium on the LME, as well as international standards for flat rolled products.

The contents of the website www.alro.ro are not incorporated into, and do not form part of, this announcement.