Rusal signed a comprehensive debt restructuring agreement to strengthen competitiveness - aluminum,

Rusal signed a comprehensive debt restructuring agreement to strengthen competitiveness - aluminum

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HC HVAC & R Network The world's largest aluminum and alumina producer Alcoa Russian joint ("Russian Aluminum" / "Group") announced it has signed all the comprehensive restructuring of its 16.8 billion debt of the required documents. Debt restructuring agreement signed to further strengthen the company's competitive position, so that the Russian aluminum to concentrate on implementing the new strategic objectives.

Company in two phases on the international borrowers to 74 billion of debt restructuring. In the first four years, the company will be based on business performance prediction according to capacity to pay principal repayments, to ensure their business can continue to develop and maintain a healthy part of the interest will be paid in cash, fixed interest rate depending on the level of debt, ranging from London Interbank Offered Rate plus 1.75 to 3.5%, whilst the remaining interest, will be capitalized. The second phase of debt restructuring, the remaining debt will be present, an additional three years to refinance the borrower. Russian Aluminium has the option of refinancing, you can choose more favorable to the company of other re-financing.

Rusal has its Russian borrowers, including VTB, Gazprombank and SberbankofRussia agreement, 2.1 billion of debt restructuring for a period of four years, and where necessary a further three years. The terms of debt restructuring and international borrowers similar to the terms of debt restructuring, but the annual interest rate debt will be reduced to 8-9 percent.

Moreover, Rusal has signed an agreement with ONEXIM, 2.7 billion of debt restructuring. The two sides agreed to 1.82 billion U.S. dollars debt to the Russian aluminum 6% interest. The remaining 880 million U.S. dollars of debt to the borrower in accordance with international provisions for the same reorganization, related accrued interest will be paid in cash. Make the conversion with ONEXIM Rusal shares some of the debt to the agreement will reduce the Russian aluminum to 14.9 billion U.S. dollars of debt and lower debt costs involved.

Restructuring credit agreements involving about 50, more than 70 borrowers to participate in the debt restructuring. Russian Aluminium has been established on a regular basis

debt reduction goals in the fourth quarter in 2013 before a total of 50 billion in debt to all borrowers.

To sign the Restructuring Agreement, the Chief Executive Officer OlegDeripaska Rusal, said: "Russia's debt restructuring involving aluminum the size and complexity is unprecedented. All with the debt restructuring on behalf of the successful transition test of the global economic downturn, we have taken this opportunity to thank the support of the borrower and the shareholders, so that the smooth restructuring, international and Russian companies to set an important benchmark. Rusal has crossed another threshold, the Group established a global leadership in sustainable business. Rusal has ready, will focus on implementing its new strategy focuses on target. "

On the Russian aluminum Russian Aluminum (www.rusal.com) is the world's largest aluminum companies, accounting for the global aluminum and alumina output of about 11% and 13%. Russian aluminum continents of 19 countries, employing more than 75,000 employees, products Sell To Europe, Japan, Korea, Southeast Asia and North America.

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