RUSAL announces finalizing terms of US$300 million trade finance
Moscow, 21 December 2010 – UC RUSAL (SEHK: 486, EuroNext: RUSAL/RUAL), the world’s largest aluminium producer, announces that it has agreed the main terms and conditions of the trade finance line in the amount of up to US$300 million with a club of international banks.
BNP Paribas, ING, Natixis, Credit Agricole, Societe Generale and UniCredit will act as the co-mandated lead arrangers for the deal. BNP Paribas is appointed as the facility agent and the collateral agent.
The facility proceeds will be used as source of additional liquidity for the company to finance primarily the exports of aluminium. It is also the first time for the international lenders to provide the company with trade finance for deliveries of aluminium and aluminium products in the domestic market of Russia and CIS countries.
The tenor of the line is one year with an extension option of up to three years. The loan will be secured by aluminium and aluminium products receivables and a pledge of goods in turnover. Following the debt restructuring, it is the first financing transaction of the company supported by the international lenders.
Oleg Mukhamedshin, RUSAL’s Director of Capital Markets, said: ‘This is the first deal after we completed restructuring of our loan portfolio in December last year. It marks the return of RUSAL to the credit markets and indicates a growing confidence in the company from the international financial community.’
About RUSAL
UC RUSAL (www.rusal.com) is the world’s largest producer of aluminium, in 2009 accounting for approximately 10% and 10% of global production of aluminium and alumina, respectively. UC RUSAL employs about 76,000 people in 19 countries, across 5 continents. UC RUSAL sells its products primarily in the European, Japanese, Korean, Chinese, South East Asian and North American markets. UC RUSAL’s ordinary shares are listed on The Stock Exchange of Hong Kong Limited (Stock code: 486) and global depositary shares representing UC RUSAL’s ordinary shares are listed on the professional board of Euronext Paris (RUSAL for Reg S GDSs and RUAL for Rule 144A GDSs).
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