Russia’s Rusal, the world’s leading aluminum producer, has just announced the repayment of a part of Sberbank’s loan in the amount of 61.5 billion rubles ahead of schedule, in December 2021.
According to the multinational, the loan, backed by shares of PJSC MMC Norilsk Nickel, was drawn in 2010 and extended in 2020 with final maturity in December 2027. Just in August, Rusal repaid 27 billion rubles ahead of schedule, resulting in total payments of 88.5 billion rubles in 2021.
According to the payment schedule, amortization begins in September 2024. “The current repayment is again made from the company’s free cash flow. The Russian multinational will continue to work to optimize its debt portfolio and reduce the cost of borrowing,” says Aleksey Grenkov, Rusal’s Head of Corporate Finance.
