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WINDALCO repays significant portion of debt to UC Rusal

Windalco's parent company UC Rusal has repaid US$371 million of  debt to Russia's largest lender Sberbank ahead of  schedule.

Rusal, the world's third largest aluminum producer, has increased focus on reducing its total debt, which was US$7.9 billion  at the end of  June.

It is also moving to modernise its assets.

That coincides with President Vladimir Putin's call for Russian exporters to invest more at home to help the coronavirus-hit economy.  

Rusal still owes Sberbank US$2.1 billion  and 79.5 billion roubles as part of  the loan, which is due at the end of  2027 and is secured against part of  Rusal's 25.5 percent stake in metals miner Nornickel.

 



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