Russia’s RUSAL raises $200 mln syndicated pre-export facility

MOSCOW, Feb 19 (PRIME) -- Russian aluminum giant UC RUSAL has signed an agreement to raise an up to U.S. $200 million syndicated pre-export facility tied to KPI in sustainable development, RUSAL’s parent company En+ Group said in a statement on Friday.

“The margin on the loan depends on the key environment and sustainable development performance indicators. KPI will be coordinated by the two sides in the future. Besides that, the loan encompasses cession of revenue on aluminum supply contracts, including supplies of the ALLOW brand with low ‘carbon footprint’, whose production uses renewable power from hydropower plants,” the statement read.

“Signing of the facility is especially important in light of obligations that En+ Group undertook to attain a zero balance of greenhouse gas emissions until 2050 and reduce the emissions by at least 35% until 2030,” Deputy CEO Oleg Mukhametshin said as quoted by En+ Group.

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