ALRO secures US$260m working-capital refinancing from six banks

ALRO secures US$260m working-capital refinancing from six banksRomanian aluminium producer ALRO has secured a US$260m syndicated credit facility from six banks, refinancing existing debt and providing revolving working-capital capacity as European metals manufacturers continue to face elevated energy costs and difficult operating conditions.Banca Comercială Română has coordinated the transaction, acting as mandated lead arranger, bookrunner, documentation agent, facility and security agent, issuing bank and lender.The banking syndicate also includes Exim Banca Românească, CEC Bank, Banca Transilvania, Raiffeisen Bank and Intesa Sanpaolo Bank România.The financing comprises revolving credit facilities with a three-year term, allowing ALRO to refinance existing obligations while maintaining access to funding for ongoing operational requirements.ALRO is one of Europe’s largest vertically integrated aluminium producers, supplying products used in transport, construction, energy infrastructure and other industrial applications.Its financing requirements reflect the working-capital intensity of aluminium production, where expenditure on energy, raw materials and industrial processing mus...