Russian aluminium titan UC Rusal this week announced the scheduled repayment of US$512 million in Eurobonds negotiated in 2017.
The firm said in a press release that the full amount of the bonds negotiated in 2017 was US$600 million, and the instruments had a maturity date of five years. The Eurobonds featured a coupon rate of 5.125 percent, and the proceeds of the instruments were used to refinance then-current indebtedness.
Alexey Grenkov, Rusal’s Head of Corporate Finance, said in a press release that this is one of several moves the firm has made in lowering its overall indebtedness.
“This repayment is part of the Company’s ongoing debt profile management. Taking into account early repayments in 2021, RUSAL has significantly reduced the amount of total debt and improved the key parameters of the loan portfolio.”
Rusal previously paid a portion of the outstanding Eurobonds in 2020.