Russian first for RUSAL
(Posted on 24/09/19)
RUSAL , one of the leading global aluminium producers, has announced that it plans to enter into a new five-year USD 750 million Sustainability Linked Pre-Export Finance (PXF) facility. It will be the first ever sustainability linked syndicated facility arranged by international commercial banks in Russia.
The proceeds of the facility will be used to partly refinance the principal outstanding under the existing up to USD 2 billion pre-export finance facility that was drawn in May 2017.
RUSAL has mandated ING and Natixis as Coordinating Mandated Lead Arrangers and Bookrunners of the facility. Natixis and Societe Generale are acting as Sustainability Coordinators.
This transaction will be the first Sustainability Linked syndicated facility arranged by international commercial banks in Russia. The margin will depend on the Company’s fulfilment of key performance indicators related to environmental impacts and sustainable developments.
The syndication was launched in early September and has received interest from the Russian and international banks active on the Russian syndicated loan market. The syndication is expected to be closed by mid-October and as of today the Company has received commitments for a total amount of USD 725 million. These commitments are subject to satisfactory documentation, as per market practice.
“This sustainability linked Pre-Export Finance facility is further proof that the Company is at the forefront of the projects that are aimed at cutting down the world’s carbon footprint. We are glad to see the appreciation of the Company’s comprehensive sustainability initiatives from the banking community. For us this transaction is not only another important step towards the refinancing of the Company’s debt optimizing maturities and financing costs, but also proves the support we have for our ecological strategy from the experts in that field”, said Evgenii Nikitin, RUSAL’s CEO.
RUSAL is the largest producer of “green” aluminium in the world. The smelters which produce its low carbon aluminium, ALLOW, have a carbon footprint four times lower than the industry average. RUSAL continues to pioneer new technology which is focused on eliminating its greenhouse gas emissions. The Company’s extensive sustainability program includes a variety of initiatives including a country-wide reforestation programme, in which 1 mln trees have or about to be planted in Siberia.
Latest News
SSAB invests $74 Million to expand steel production in Alabama
(Posted on 07/05/25)Highly-specialised global steel company, SSAB has announced a significant investment of approximately... Read more
GGC welcomes new Canadian government and urges farm priorities action
(Posted on 01/05/25)Grain Growers of Canada (GGC) has welcomed Prime Minister Mark Carney and all Members of Parliament... Read more
US Soybean growers disappointed in 2;4-D Anti-Dumping and Countervailing Duties vote
(Posted on 30/04/25)The International Trade Commission in the USA has voted in favour of imposing final anti-dumping (AD... Read more
Ukraine already sown two million hectares of spring grains
(Posted on 28/04/25)As of April 25, 2025, farmers in all regions of Ukraine have sown 2M hectares (ha) of spring grain and... Read more
Condobolin rail upgrade fast-tracks NSW grain
(Posted on 25/04/25)GrainCorp’s rail site at Condobolin, in the heart of central west New South Wales, Australia,... Read more
Rio Tinto and AMG assess low-carbon aluminium project in India
(Posted on 22/04/25)Rio Tinto and AMG Metals & Materials (AMG M&M), an energy transition solutions provider, have... Read more
BHP record iron ore and copper production demonstrates resilience
(Posted on 22/04/25)BHP has released its Operational Review for the nine months ended 31 March 2025.BHP Chief Executive... Read more
WTO: Trump’s tariffs will shrink global trade
(Posted on 16/04/25)The volume of world merchandise trade is expected to decline by 0.2% in 2025 under current conditions... Read more
$235million syndicated loan agreement to boost UAE trade with Trafigura
(Posted on 15/04/25)In a strategic move to empower UAE exporters and advance the nation’s economic diversification... Read more
Anglo American update on sale of steelmaking coal business to Peabody
(Posted on 15/04/25)Anglo American plc has noted the recent statement issued by Peabody Energy in relation to the definitive... Read more
