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Rusal completes $9.33 billion debt refinancing

Rusal completes $9.33 billion debt refinancing
Rusal has signed off on agreement with major lenders on $9.33 billion worth of debt refinancing.

­The company signed an amendment to a previous $4.58 billion loan agreement with Sberbank ending a Vnesheconombank guarantee, and extending maturity until September 2016.  It has also negotiated the extension of a 2009 loan facility with 13 Russian and international banks, including BNP Paribas  (Suisse) SA, ING  Bank  N.V.,  Commerzbank  Aktiengesellschaft,  Credit  Agricole Corporate and  Investment Bank,  Gazprombank,  Natixis, Nordea  Bank  AB (publ), The Royal  Bank of  Scotland Plc, Sberbank  of Russia,  Sumitomo Mitsui Banking Corporation, SCGIB, UniCredit  Bank AG and WestLB AG.  
Oleg Mukhamedshin, Rusal Director for Equity and Corporate Development said the company’s ability to refinance in a difficult global financial market environment, reflected its market standing and further adds Rusal’s financial position.  
“Despite the difficult situation in the world financial markets, RUSAL, as planned and on schedule, has successfully signed the debt refinancing agreements with its major lenders. It brings additional financial soundness to the Company in the currently unstable financial environment and opens new development opportunities including investments in capacity extension programmes and the possibility of paying dividends to Company's shareholders.”