Russia’s RUSAL says plans no new loans to refinance debt

SOCHI, May 30 (PRIME) -- Russian aluminum giant US RUSAL doesn’t plan to take out new loans to refinance its debt and plans to redeem the remaining U.S. $600 million with its own funds, CEO Vladislav Solovyov told PRIME on Monday.

“We do not plan,” he said.

In late April, RUSAL said it agreed to borrow $692.6 million to refinance its current debt.

RUSAL has to repay around $1.3 billion debt in 2016. As of March 31, the company’s net debt stood at $8.162 billion.

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