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RUSAL to prepay US$522M debt due in 2016

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RUSAL to prepay US$522M debt due in 2016

United Co.RUSAL Plc said April 29 that it intends to prepay three scheduledrepayment installments, totaling US$522 million, due in 2016 under the combinedpre-export facility.

The company previously confirmed that it will up to US$700 millionof debt due for repayment in 2016 and early 2017.

RUSAL will use US$414 million of available commitments underthe new refinancing tranches as well as US$108 million of the company's ownfunds, according to the statement.

Following the payment, the company's obligation to repay thescheduled installments under the combined facility for 2016 will be fullydischarged.

In addition, RUSAL will enter a new credit facility with JSCGazprombank for up to US$177.6 million to refinance its scheduled repaymentinstallments falling due in the second to fourth quarters of 2016 under theexisting credit agreements with the latter.

The agreement is expected to be finalized by end of May.

RUSAL will also enter into a new credit facility agreementwith Sberbank of up to US$100 million to refinance its own debt or that of anyother company of the group.