The revolving loan, guaranteed by Vimetco, the company’s majority shareholder, will be granted by a syndicate of banks.
Also, Alro wants to contract an investment loan of $60 million from Black Sea Trade and Development Bank and other lenders.
Another loan of $27.2 million is going to be contracted from Raiffeisen Bank Romania and will be used to pay off debts.
Alro will use its assets, stocks and receivables as collateral for the loans it plans to contract.
The company’s shareholders will decide on the contracting of loans on July 10.
Alro Slatina posted a loss of RON108.55 million and a turnover of RON1.99 billion in 2014. For 2015, Alro expects a profit of $63.6 million, revenues of $663.6 million and targets investments of $59 million.
Alro is a unit of Dutch-based Vimetco group which owns nearly 84.2% of Alro shares. Investment fund Fondul Proprietatea holds a 10.21% stake.