UC Rusal To Complete $4.75B Debt Refi
UC Rusal is likely to complete debt refinancing talks in almost four weeks.
UC Rusal is likely to complete debt refinancing talks in almost four weeks, Bloomberg reports. Rusal has appointed banks, such as BNP Paribas and ING Groep, to arrange a $4.75 billion loan to refinance debt to international lenders, which may be raised to at most $5 billion.
The credit facility will be split into two tranches of about $4.25 billion and $1 billion. With the funding, the company will pay dividends and pay back debt to Onexim Group. Russian lender Sberbank is refinancing $460 million of debt, while $655 million loan will be provided by Gazprombank. Both facilities will mature in 2016.
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