16 SEPTEMBER 2011Bloomberg
Rusal Sees $120 Million Savings in Debt Costs After Refinancing
Edited by : AL CIRCLE
1 min read
United Co. Rusal expects to save about $120 million in interest payments after completing debt refinancing talks this month, Deputy Chief Executive Officer Oleg Mukhamedshin said.
Rusal, the world’s biggest aluminum maker, is “on track” to complete debt refinancing with all its lenders by the end of September, which will cut the overall debt cost, Mukhamedshin said today in an interview with Linzie Janis on Bloomberg Television’s “Countdown.”
“The overall cost of our debt post refinancing will be slightly above 4 percent per annum,” Mukhamedshin said. “And we expect about $120 million of savings on the interest rate in the next 12 months.”
Rusal, the world’s biggest aluminum maker, is “on track” to complete debt refinancing with all its lenders by the end of September, which will cut the overall debt cost, Mukhamedshin said today in an interview with Linzie Janis on Bloomberg Television’s “Countdown.”
“The overall cost of our debt post refinancing will be slightly above 4 percent per annum,” Mukhamedshin said. “And we expect about $120 million of savings on the interest rate in the next 12 months.”
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