Calculate Embedded Emissions for Unwrought Aluminium (HS7601)

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Payable emissions (tCO₂e/t)

Total CBAM Cost (€)

Notes:
There may be a difference when calculating the price with respect to import volume, carbon price, and benchmark emissions, as the embedded formula may result in minor variations due to decimal rounding. Therefore, the actual value may vary.

CBAM is applicable to trade volumes starting from 50 metric tonnes. For trade volumes below 50 metric tonnes, CBAM does not apply.

Usage Procedure – How to use the CBAM Calculator Sheet

Enter or update values only in the INPUT
PARAMETERS section (Highlighted in blue) , including
the carbon price, benchmark emissions, CBAM
chargeable percentage (as per the phase-in year),
and imported quantity.

The system will automatically calculate the payable
emissions and the total CBAM cost (€) based on the
inputs provided.

Notes:
• Change any input value to automatically update CBAM cost.
• Formula used: Carbon price × payable emissions × quantity.
• Model aligned with CBAM supplier-side illustrative methodology.

19 AUGUST 2021 AL CIRCLE

UAE’s aluminium giant EGA refinances $ 5.5 billion corporate facility to further improve its capital structure

EDITED BY : RUPANKAR MAJUMDER 2MINS READ

The largest industrial company in the United Arab Emirates outside oil and gas, Emirates Global Aluminium (EGA) has prosperously refinanced $ 5.5 billion of corporate debt, deleveraging and improving repayment terms to lessen costs and validating the best dividend policy in future years for shareholders.

EGA refinances $ 5.5 billion corporate debt

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The term loan facility narrows by $1 billion the size of EGA’s existing seven-year $ 6.5 billion loan facility signed in 2019, as strong aluminium prices and EGA’s operational performance drive liquidity at the company.

The new facility, which is a senior unsecured loan, reprofiles EGA’s scheduled debt repayments and extends them by 2.5 years. The terms incorporate a mechanism that delivers material reductions in the cost of debt to EGA as the company further strengthens its balance sheet and reduces leverage.

The market received the transaction well and was significantly oversubscribed by the 22 local, regional and international banks that participated in the deal.

Zouhir Regragui, Chief Financial Officer, EGA, said: “2020 was a pivot year for EGA when, after delivering upon our upstream expansion strategy by completing our investments in bauxite and alumina, we have turned our focus to deleveraging to support EGA’s ambitions to further strengthen our balance sheet and – if our shareholders wish it – become not only the UAE’s largest non-oil industrial company but also one of this country’s largest listed companies. Achieving a US$ 1 billion reduction in the facility during a period impacted by COVID-19 demonstrates the strength of EGA’s free-cash-flow generation.”

The institutions that acted as coordinators, book-runners and mandated lead arrangers were Citi, Dubai Islamic Bank, Emirates NBD, First Abu Dhabi Bank PJSC, and Natixis

The other book-runners and mandated lead arrangers were Abu Dhabi Commercial Bank, BNP Paribas, Export Development Canada, ING, Intesa Sanpaolo, MUFG, Societe Generale, and Standard Chartered.

Other banks that participated in the financing were Al Ahli Bank of Kuwait, Arab Petroleum Investments Corporation, Commercial Bank of Dubai, Kuwait Finance House, Mashreq Bank, National Bank of Kuwait, National Bank of Ras Al Khaimah, Sharjah Islamic Bank and State Bank of India.

First Abu Dhabi Bank PJSC acted as Global Agent and Conventional Facility Agent, and Dubai Islamic Bank acted as an Islamic Facility Agent for the transaction.

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