UC Rusal has obtained improved terms on a $4.6 billion loan facility from Sberbank, Bloomberg reports. As part of the new terms, the annual interest rate on the loan has been reduced to 4.5% above the London interbank offered rate from 5%.
The loan, which was due to expire in 2013, will now mature in 2016. The loan was provided in 2010 to refinance the $4.5 billion owed to Vnesheconombank, Russia’s state development lender known as VEB.
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