print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all Russian Aluminum press releases

Russian Aluminum

April 8, 2003

RUSAL announces closing of $190 million syndication

MOSCOW, 08 April, 2003 - RUSAL announced today that syndication of the credit facility arranged by BNP Paribas, Glencore International and Natexis Banques Populaires closed last week.  The syndication was oversubscribed, and size of financing was subsequently increased to $190 million from the initial $150 million.

The loan is a three-year aluminium pre-export facility with a seven-month grace period.  The credit agreement was signed in December 2002.  Under terms of the agreement, the joint mandated arrangers committed to full underwriting of the $150 million facility.

Commenting on the transaction, Oleg Mukhamedshin, RUSAL’s corporate finance director, said, “I am pleased that new institutions expressed their interest in what represented the company’s longest-term pre-export financing deal to date.  This further demonstrates the increased appetite of international banks for RUSAL’s business. The transaction now brings the number of international institutions lending to RUSAL to over thirty.”

In addition to the lead arrangers, the following banks joined the facility: Bayerische Landesbank acting as co-arranger; Commerzbank, Donau Bank, Erste Bank, Garantibank International, Moscow Narodny Bank, UFJ Bank as lead managers; and Landesbank Rheinland-Pfalz Girozentrale as lender.

The transaction allowed RUSAL to further improve its debt structure, while total financial indebtedness remained at $1.5 billion.


END


About RUSAL
RUSAL is the second largest primary aluminium producer in the world, formed in March 2000 from the merger of a number of the largest smelters and other aluminium producers located in the CIS. The Company accounts for 75% of Russia's primary aluminium output and 10% of the global primary aluminium output. RUSAL is a fully vertically integrated company with a complete production cycle from bauxite mining and the production of raw materials, to the production of primary metal, semi-products and aluminium-based end products. RUSAL is headquartered in Moscow.

For further information:
www.RUSAL.com
Eugenia Harrison, Moscow, +7 095 720 5170, or zharrison@RUSAL.ru;
Fred Harrison, London, +44 (0) 20 7431 7517, or fharrison@ansdellconsult.com;
Stan Neve, New York, +1 212 333 3810, or sneve@brunswickgroup.com


 

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer