27.12.2021
RUSAL repays 61.5 billion rubles loan from Sberbank ahead of schedule
Moscow, 27 December, 2021 - RUSAL (SEHK: 486, Moscow Exchange: RUAL) a leading global aluminium producer, repaid a part of the Sberbank loan in the amount of RUB61.5 billion ahead of schedule in December 2021.
The loan backed by shares of PJSC MMC Norilsk Nickel, was drawn in 2010 and extended in 2020 with final maturity in December 2027. In August, RUSAL repaid RUB27 billion ahead of schedule, resulting in total payments of RUB88.5 billion in 2021.
The loan consists of USD and RUB tranches with current outstanding amounts of USD2.1 billion and RUB18 billion respectively. According to the payment schedule amortization is starting from September 2024.
“The current repayment is again made out of the company's free cash flow. RUSAL will continue to work on optimizing its debt portfolio and reducing the cost of borrowing,” said Aleksey Grenkov, Head of Corporate Finance of RUSAL.
The loan backed by shares of PJSC MMC Norilsk Nickel, was drawn in 2010 and extended in 2020 with final maturity in December 2027. In August, RUSAL repaid RUB27 billion ahead of schedule, resulting in total payments of RUB88.5 billion in 2021.
The loan consists of USD and RUB tranches with current outstanding amounts of USD2.1 billion and RUB18 billion respectively. According to the payment schedule amortization is starting from September 2024.
“The current repayment is again made out of the company's free cash flow. RUSAL will continue to work on optimizing its debt portfolio and reducing the cost of borrowing,” said Aleksey Grenkov, Head of Corporate Finance of RUSAL.
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