Rusal announced finalizing terms of US$300 million trade finance 

BNP Paribas, ING, Natixis, Credit Agricole, Societe Generale and UniCredit will act as the co-mandated lead arrangers for the deal. BNP Paribas is appointed as the facility agent and the collateral agent.

The facility proceeds will be used as source of additional liquidity for the company to finance primarily the exports of aluminium. It is also the first time for the international lenders to provide the company with trade finance for deliveries of aluminium and aluminium products in the domestic market of Russia and CIS countries.

The tenor of the line is one year with an extension option of up to three years. The loan will be secured by aluminium and aluminium products receivables and a pledge of goods in turnover. Following the debt restructuring, it is the first financing transaction of the company supported by the international lenders.

Oleg Mukhamedshin, Rusal’s Director of Capital Markets, said: ‘This is the first deal after we completed restructuring of our loan portfolio in December last year. It marks the return of Rusal to the credit markets and indicates a growing confidence in the company from the international financial community.’

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