UC "Rusal" has agreed with all the creditors to refinance their syndicated loans.
Edited by Rhod Mackenzie / 2014-08-04 07:07:04
INTERFAX.RU - UC "Rusal" earned the approval of 100% of the lenders to refinance two syndicated loans worth $ 5.15 billion ($ 4.75 billion and $ 400 million), the company stated.
For the formal completion of the refinancing UC "Rusal" will soon sign "an agreement on amendments and additions" with the creditors, according to which the pre-export financing contracts will be combined into a single loan agreement.
"There were agreements with the banks that will significantly improve UC "Rusal"’s debt profile, and will enable the company to maintain a stable liquidity position in anticipation of the growth in the aluminum market", - Oleg Muhamedshin, the director of strategy, business development and financial markets of the company.
