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Russian Federation : UC RUSAL fully completes refinancing process

August 22, 2014

UC RUSAL, a leading global aluminium producer, is pleased to announce that the Amendment Agreement on the refinancing of USD4.75 billion and USD400 million PXF facilities has been signed and has become effective. The Company will no longer be pursuing the Schemes of Arrangement, which processes are now discontinued.

Pursuant to the Amendment Agreement, the two PXF facilities are combined into a single facility agreement. The loans will be repaid in quarterly instalments starting from 12 January 2016. Margin may be revised quarterly based on Total Net Debt/EBIDTA ratio.

The Amendment Agreement became effective on 20 August 2014. A final maturity date is 31 December 2018 (for tranche A under the USD4.75 billion PXF facility and USD400 million PXF facility) and 31 December 2020 (for tranche B under the USD4.75 billion PXF facility).

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Source: TendersInfo (India)

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