30 AUGUST 2011Shanghai Metal Market
Rusal Agrees $655 Million Credit Line With Gazprombank, $460 Million With Sberbank
Edited by : AL CIRCLE
1 min read
United Co. Rusal PLC (0486.HK), the world's biggest aluminium producer, said Monday it had agreed up to $655 million credit line with Gazprombank (GZPR.RS) and a $460 million credit line with OAO Sberbank (SBER.RS), both of which it would spend to refinance its debt to the corresponding banks.
Rusal said earlier in the day it was on track to refinance all of its debt within the next four weeks, after which the company will be in a position to start paying dividend. Rusal's net debt stood at $11.43 billion as of June 30.
Rusal said earlier in the day it was on track to refinance all of its debt within the next four weeks, after which the company will be in a position to start paying dividend. Rusal's net debt stood at $11.43 billion as of June 30.
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