UC Rusal plans to settle up to $1 bln of debt in 2015
Edited by Rhod Mackenzie / 2015-06-22 05:05:42
UC Rusal plans to preliminary settle up to $1 bln in 2015 taking into account cash sweep and bonds that we have already settled in Q1. Next year we have about $1 bln of obligatory payments, CEO V. Soloviev said.
On the results of Q1 2015 the net debt of UC Rusal made up $8.624 bln. The cash sweep mechanism is one of the main elements of the company’s debt restructuring scheme. It presupposes that all free funds are directed for the settlement of loans, besides operational expenditure and necessary investment.
