The credit agreement includes a $400 million prepayment. The credit is provided at LIBOR plus 4.95% and must be redeemed before the end of 2016.
As of April 31, stakes of another 10 RUSAL were used as collateral to secure credits.
RUSAL has frozen payments on $5.15 billion worth of syndicated loans from April 8 till July 7. The creditors agreed not to take any action against any company of the RUSAL group not to trigger a default under the initial loan agreement.
RUSAL’s net debt amounts to more than $10 billion as of April 1.