Aluminium Bahrain (Alba) on Thursday in a statement confirmed that it had entered into term loan agreements to refinance the $169million bond expiring in March 2013.
The term loans include a bilateral five year loan of $85million between Alba and Gulf International Bank. It also includes and a syndicated three year loan of $84million between Alba and a syndicate comprising of Ahli United Bank, National Bank of Bahrain, Tokyo-Mitsubishi UFJ Ltd, Arab Banking Corporation and Bank of Bahrain and Kuwait.
Alba has been consistently ranked as one of the largest aluminium smelters in the world, and is known for its technological strength, global competitiveness and innovative policies. Alba produces more than 880,000 metric tonnes per annum of aluminium which meet or exceed the industry standard for purity, with products including standard and T-ingots, extrusion billets, rolling slab, properzi ingots, and molten aluminium. It has also maintained a strong track record of operational safety and environmental compliance.