ALROSA redeems $450 mln banking loans ahead of schedule

MOSCOW, Mar 12 (PRIME) -- Russian uncut diamond mining giant ALROSA has redeemed U.S. $450 million worth of banking loans ahead of schedule, reducing its combined debt by more than 27% to $1.17 billion, the company said in a statement on Monday.

The company redeemed a $250 million banking loan and a $200 million part of a loan that the company had taken out from Rosbank and Raiffeisenbank in December 2017, the company said, adding that it used the money raised in a February auction of its natural gas assets.

On February 22, independent gas producer Novatek closed a purchase of ALROSA’s gas companies Geotransgaz and Urengoi Gas Company for 30 billion rubles.

(56.8011 rubles – U.S. $1)

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