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News from Members ZRVP Advises ALRO on a USD 150 Million Syndicated Credit Facility Coordinated By EximBank

ZRVP Advises ALRO on a USD 150 Million Syndicated Credit Facility Coordinated By EximBank

by Zamfirescu Racoti Vasile & Partners November 27, 2020

Law firm Zamfirescu Racoți Vasile & Partners (ZRVP) has advised Alro S.A., one of the largest vertically integrated aluminium producers in Europe, on the extension of a revolving syndicated credit facility in total amount of USD 150 million, coordinated by EximBank.

Senior Partner Ioana Racoți, partner Elena Iacob and senior associate Oana Dragomir were part of the legal team involved in the transaction, along with lawyers from Simmons & Simmons who offered legal advice on English law matters.

The firm advised ALRO on all aspects of the transaction including financing structure, drafting and negotiation of transaction documents, financing arrangements, intercreditor agreement, waivers and consents from other financing banks, assistance with closing formalities, review of corporate approvals, and registration of securities.

"Simmons & Simmons and Zamfirescu Racoți Vasile & 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”, stated Marian Năstase, Chairman of the Board of Directors, ALRO.

Ioana Racoți, senior partner of ZRVP, commented:

“Our comprehensive advice on the project included designing a sophisticated and complex securities structure, a landmark approach for this type of transactions. In addition, the smooth and timely international collaboration has once again led to a successful transaction”.

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, and the International Bank for Economic Cooperation.

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.

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About Zamfirescu Racoţi Vasile & Partners

Zamfirescu Racoţi Vasile & Partners (ZRVP) is recognised as one of the leading law firms in Romania, providing legal assistance services in the areas of litigation and arbitration, as well as business law, insolvency and tax consultancy.

ZRVP has a team of 63 lawyers, including 13 partners: Călin-Andrei Zamfirescu, Ioana Racoţi and Stan Tîrnoveanu (founding partners), Cosmin Vasile (managing partner), Anca Danilescu (senior partner), Andrei Dumitrescu, Mihai Băjenaru, Elena Iacob, Alina Tugearu, Monica Strîmbei and Cătălin Micu (partners), prof. dr. Valerian Cioclei and Robert Oancea (of counsel).

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