17 AUGUST 2011alu
$4.6 billion loan revamp eases RUSAL debt load
Edited by : AL CIRCLE
1 min read
Debt-laden UC RUSAL (0486.HK), the world's largest aluminum producer, has reached agreement with Russian state-run bank Sberbank (SBER03.MM) on easier terms for a $4.58 billion loan facility.
RUSAL said the maturity of the debt, secured in September 2010 and due December 7 2013, would be extended to 2016, with the interest rate reduced to Libor plus 4.5 percent down from 5.0 percent previously.
In addition, a $2.25 billion guarantee against the loan provided by Vneshekonombank (VEB) has been terminated, a joint RUSAL and Sberbank statement said on Tuesday.
RUSAL said the maturity of the debt, secured in September 2010 and due December 7 2013, would be extended to 2016, with the interest rate reduced to Libor plus 4.5 percent down from 5.0 percent previously.
In addition, a $2.25 billion guarantee against the loan provided by Vneshekonombank (VEB) has been terminated, a joint RUSAL and Sberbank statement said on Tuesday.
Tagged with:RUSAL
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