The company plans to use the money to refinance a $120 million revolving credit line it secured from the European Bank for Reconstruction and Development in 2010.
The consortium of lenders is made up of Raiffeisen Bank International and Raiffeisen Bank Romania, UniCredit Bank, OTP Bank, Eximbank, Garanti Bank, Intesa Bank and Banca Transilvania, Alro said in a statement Friday.
Earlier this week, the company said it signed a $60 million seven-year loan agreement with the Black Sea Trade and Development Bank and plans to use to money to continue its investment program this year.
Alro is a unit of Dutch Vimetco, which has operations in Romania, China and Sierra Leone. The company owns nearly 84.2% of Alro’s capital, while restitution fund Fondul Proprietatea owns 10.21%.