ALRO extended with three years the revolving syndicated credit facility in total amount of USD 150 million, coordinated by EximBank

Mon, 11/23/2020 - 10:47
  •  The credit facility sustains the Company’s working capital for the next three years
  • The banks syndicate includes Unicredit Bank, OTP Bank Romania, EximBank ING Bank Bucharest Branch, Raiffeisen Bank, CEC Bank, Intesa Sanpaolo Romania, Banca Transilvania, Garanti Bank and the International Bank for Economic Cooperation
  • Simmons & Simmons and Zamfirescu Racoți Vasile & Partners offered ALRO legal advice in this transaction, while the banks syndicate was represented by Allen & Overy and Radu Tărăcilă Pădurari Retevoescu SCA

Slatina, 23 November 2020 – ALRO S.A. (BVB: ALR, “the Company” or “ALRO”), 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.

We would like to express our gratitude to the professionalism of the teams involved in the negotiation process, starting with EximBank, the group of banks in the syndicate and last but not least to the law firms that represented the parties. Simmons & Simmons and Zamfirescu Racoti Vasile and Partners had an in-depth understanding of the complexity of the credit facility and of the aluminium business, and were a contributory and defining element in the conclusion of this deal”, added Marian NĂSTASE, Chairman of the Board of Directors, ALRO.

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.

For further information, please contact:

Florența Ghiță


Phone: +40 744 644 004


Notes to the Editors: 

ALRO Group

The companies part of ALRO Group are: ALRO S.A. – manufacturer of aluminium, Alum S.A. – producer of alumina, Sierra Mineral Holdings I, Ltd. – bauxite mining, Vimetco Extrusion S.R.L. – extrusion business line, Conef S.A. – holding and management company, Global Aluminium Ltd. – holding company and Bauxite Marketing Ltd - marketing. Having this structure, the Group created an integrated production chain assuring the raw materials for ALRO.


ALRO is a subsidiary of Vimetco N.V., (the Netherlands), a global, vertically-integrated primary and processed aluminium producer. ALRO is one of the largest vertically integrated aluminium producers, by capacity, in Europe, having an installed production capacity of 265,000 tonnes per annum of electrolytic aluminium, 35,000 tonnes per annum of recycled aluminium and 325,000 tonnes per annum primary cast aluminium.

The main market for ALRO products is represented by the European Union; the Company exports its products to the USA and Asia, as well. ALRO is ISO 9001 certified for quality management and has NADCAP and 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.

Starting from 18 March 2019, the Index Committee of the Bucharest Stock Exchange approved the inclusion of ALRO (code ALR) in BET, the main index of the market, and in BET-TR, the total return version of BET. ALRO’s shares have been listed on the Bucharest Stock Exchange since October 1997 and ALRO represents the first company in the aluminium industry present in these two indices.

Since 16 November 2020, ALRO is a member of ASI (Aluminium Stewardship Initiative), an international association that contributes to enhancing sustainability in the global aluminium sector.

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