EBRD CONSIDERS TAKING LEAD IN REFINANCING DEBT OF ROMANIAN ALUMINIUM SMELTER
June 1st, 2010
BY KEITH NUTHALL
THE EUROPEAN Bank for Reconstruction & Development (EBRD) is considering taking the lead in refinancing the bulk of the debt owed by south-east Europe's largest aluminium producer - Romania's Alro.
The London-based EBRD has drafted a plan to lend Alro up to US dollars USD180 million, of which at least USD105 million would be syndicated to commercial banks (including the company's current lenders).
While the company is solvent, its debt has hampered its investment plans, noted an EBRD memorandum. It explained: "Due to the global crisis, ...
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