RUSAL Borrows $687.5 Mln

The banks ABN AMRO, BNP PARIBAS and CITIGROUP have syndicated $687.5 million in loan for the RUSSIAN ALUMINIUM company. The sum drawn has surpassed by nearly 40% the amount originally planned. The loan consists of two tranches, to be repaid in two and five years, respectively. The first unsecured tranche is worth $206.75m, matures in one year and may be prolonged for another year. The second tranche of $480.75m represents pre-export financing, and is to be repaid in equal monthly portions after an 18-month grace period.