Dentons has advised the Black Sea Trade and Development bank on a seven-year USD 40 million corporate loan to Romanian aluminum producer Alro, part of Vimetco Group, for its capital investment program. Zamfirescu Racoti Vasile & Partners and Simmons & Simmons advised Alro.
According to Dentons, the loan will be used primarily to improve the company’s energy management performance and increase its high value-added production capacity. The project’s total cost amounts to approximately USD 95 million. In addition to the financing from BSTDB, the project will also be financed by Romanian and international commercial banks.
Dentons’ team included Russia-based Partner Timothy Stubbs and Counsel Dennis Montgomery and Romania-based Managing Partner Perry Zizzi, Counsel Oana Ionascu, and Associate Cristina Staicu.
ZRVP’s team included Senior Partner Ioana Racoti and Partner Elena Iacob.