UC RUSAL intends to raise $2.25bn via a syndicated loan or a Eurobond issue for refinancing a $4.5bn syndicated acquisition facility backing the acquisition of a blocking stake in Norilsk Nickel. The $4.5bn facility is a two year bridge loan, 50% thereof has to be repaid in a year. So the company needs to refinance at least half of the loan by the end of 2008. No definite decision on the instrument for refinancing this loan has been arrived at yet, but the company mulls a syndicated loan or a Eurobond issue. |
