RUSAL partially repays Sberbank loan in the amount of 27 billion rubles
Moscow, September 10, 2021 – RUSAL (SEHK: 486; Moscow Exchange: RUAL), a leading global aluminium producer, in August 2021 repaid a part of the Sberbank loan in the amount of RUB27 billion ahead of schedule.
The Sberbank loan was drawn in 2010 and is backed by PJSC MMC Norilsk Nickel shares. The loan consists of US$ and RUB tranches with current outstanding amounts of US$2.1 billion and RUB79.5 billion respectively following repayment of RUB27 billion ahead of schedule. According to the payment schedule amortization is starting from September 2024 with final maturity in December 2027.
"RUSAL constantly pursues different options for debt portfolio management to further optimize its profile and reduce costs. The current repayment was made out of the company's free cash flow for the first half of 2021, a significant part of which was formed from the dividends received from Norilsk Nickel," said Alexander Popov, RUSAL's Finance Director.