UC Rusal has started to settle a $5 bln loan
Rusal has made the first tranche for the planned settlement of the syndicated loan for over $5 bln.
A representative of Rusal said that the company makes all payments. A source in one of the banks-creditors confirmed that Rusal makes payments according to the schedule. However, none of the parties released the amount of the first tranche.
In the summer 2014 Rusal completed the deals on the refinancing of syndicated loans for $4.75 bln and $400 mln. According to new conditions, 2 syndicated loans were united into one with the period of settlement until December 31st 2018. The payments will be made quarterly beginning from January 12th 2016. The profit can be recalculated dependent on the rate of the net debt/EBITDA ratio on a quarterly basis and it is not to exceed 4.5% per annum.
