Rusal completes bond placement

(Posted on 11/11/19)

RUSAL, one of the leading global aluminium producers, has announced the close of the bookbuilding process for its fourth placement of ruble-denominated bond on the Moscow Exchange with the nominal value of 15 billion rubles, 10-year maturity and a 3-year put option. Coupon rate of 7.45% p.a. has become the record low for the Company.

RUSAL is the leader of the global aluminium industry. In 2018, the Company accounted for about 5.8% of global production of aluminium and 6.2% of alumina production.

The coupon rate has decreased several times during the bookbuilding: the initial guidance of 7.50-7.60% was first revised to 7.45-7.50%, and finally the deal was settled at 7.45% p.a. This is the record low coupon rate for the Company’s placement on the Russian market.

As a result, during 2019 RUSAL has competed four placements of ruble-denominated bonds with the total value of 60 billion rubles. The coupon rate was set lower with every issue – from 9.00% p.a. in April, when the first tranche was placed for the first time after a long break, to 7.45% for the final issuance in November.

“The successful issue of ruble bonds throughout the course of this year has demonstrated the high level of trust which the investment community continues to place in RUSAL, and reinforces the current relevance of the Company’s strategic goals – such as the reduction of our carbon footprint and the introduction of technological innovations through the development and promotion of new aluminium products”, said Oleg Mukhamedshin, RUSAL’s Director for Strategy, Business Development and Financial Markets.

Each time on the back of high demand the size of issuance was increased during the bookbuilding process as compared to the initial guidance, which is another evidence of the financial community’s interest and trust in the Company.

The settlement will take place on the Moscow Exchange on November 14, 2019. The issuer is OJSC RUSAL Bratsk.

VTB Capital, Gazprombank, Moscow Credit Bank, Sberbank CIB, Bank Otkritie Financial Corporation, BCS Global Markets, Region BC and Sovcombank manage the issuance. The settlement agent is Gazprombank.

Latest News

Pilbara production record as Rio Tinto releases Q2 results

Rio Tinto has driven performance to achieve 3% YoY CuEq1 growth in the first half of 2026.Chief Executive... Read more

Record iron ore production helps strengthen BHP growth pipeline

BHP have released its Operational Review for the year ended 30 June 2026.Chief Executive Officer, Brandon... Read more

Stranded sulphur cargoes in Gulf face mounting corrosion risk, warns Brookes Bell

Bulk carriers carrying elemental sulphur cargoes in the Strait of Hormuz are at significant risk of... Read more

BHP and Faraday Copper sign definitive San Manuel agreement

Further to BHP’s announcement in February, BHP, through a wholly owned subsidiary, has executed... Read more

Urea price dive hits Australian grain suppliers

Australia’s Federal Government's fertiliser support package has come under scrutiny as global... Read more

SSAB pauses work at construction site in Luleå

SSAB has once again paused work at the construction site for its new steel mill in Luleå, Sweden... Read more

Trafigura issues USD500 million senior bond

Trafigura Group Pte Ltd. has announced the issuance of a USD500 million senior Reg S bond with a five... Read more

NGFA welcomes Senate Farm Bill proposal

The National Grain and Feed Association (NGFA) in the USA has welcomed the release of Senate Agriculture... Read more

Agreement paves way to deliver 2.7 million tonnes of additional copper production

Anglo American plc, through its 50.1%-owned subsidiary, Anglo American Sur S.A., and Codelco, have announced... Read more

SSAB and partners launch closed loop steel recycling initiative in US

SSAB Americas, The Greenbrier Companies and Alter Trading are partnering on a circular economy project... Read more