Rusal Reaches $400 Million Credit Facility Agreement With Banks

United Co. Rusal (486), the world’s largest aluminum producer, said it reached an agreement with banks to borrow as much as $400 million.

The company arranged the multi-currency credit facility with banks including ING Bank NV and Bank of China Ltd., Rusal said today in a statement. Rusal in early February plans to prepay the scheduled amortizations of principal due for the third and fourth quarters on $4.75 billion of loans, the company said.

Rusal restructured $17 billion of debt in 2009 and refinanced loans in 2011. The company last year agreed to covenant holidays with lenders on $4.75 billion and started to exercise the waiver from the first quarter of 2012.

To contact the reporter on this story: James Paton in Sydney at jpaton4@bloomberg.net

To contact the editor responsible for this story: Jason Rogers at jrogers73@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.