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UC Rusal Seeks $4.75B Loan

UC Rusal has appointed 12 banks to arrange a loan of about $4.75 billion.

UC Rusal has appointed 12 banks to arrange a loan of about $4.75 billion, Reuters reports. The banks, including BNP Paribas, WestLB and ING, will help arrange the loan for the aluminum producer.

The interest rate on the facility will be reset quarterly according to a margin adjustment mechanism. The transaction is expected to be closed in late September 2011, adds PRIME-TASS.

Click here for the story from Reuters.

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