| Other Photos |
 |
|
 |
Rusal Raises $1bn for Consolidation
Rusal Co. clinched a loan deal for $1 billion and received $674 million already. The money is raised to fund consolidation of Rusal, SUAL and Glencore’s alumina assets, rbc.ru reported.
The lead managers were BNP Paribas (Suisse) SA, Calyon, Citigroup and Natixis. BNP Paribas (Suisse) SA was appointed to be in charge of the credit documentation.
The peculiarity of the loan is the absence of security. Once the consolidation is completed, the one-year facility will be re-financed for the account of global syndication.
Rusal, SUAL and Glencore sealed the consolidation agreement on October 9, 2006. A new giant, Russian Aluminum, will emerge via a deal that is expected to be completed by April 1, 2007.
Once consolidated, Russian Aluminum will annually produce around 4 million tons of aluminum and 11 million tons of alumina to win roughly 12.5 percent of the global market of primary aluminum and 16 percent of alumina market.
Rusal is one of global three leaders of aluminum and alloys, covering 75 percent of the market in Russia and 10 percent worldwide.
SUAL is a vertically integrated company, one of the world ten biggest producers of aluminum. It unites bauxite miners and producers of silicone, aluminum semi-finished products and ready-made products.
Glencore International AG is a big private diversified company with business conducted worldwide.
www.kommersant.com
|
|
|
