HALISTER1: Rusal Considers Selling Eurobond, Panda Bonds for Refinancing

Rusal Considers Selling Eurobond, Panda Bonds for Refinancing

(Bloomberg) -- Aluminum producer is considering 3 types of debt refinancing, including selling a eurobond as rates are attractive, Deputy CEO Oleg Mukhamedshin says in phone interview from London.
  • Rusal may use 70b-ruble multi-currency exchange-traded bonds program it registered with Moscow Exchange
  • Co. also in talks with Chinese regulators over issuing panda bonds
  • NOTE: Panda bonds are yuan-denominated securities sold by a non-Chinese organization and traded in China’s domestic mkt
  • Co. is also in talks with banks to lower borrowing costs under existing debt
  • Rusal is waiting for lenders’ approval to pay interim div. approved by board last month; expects approval in Oct.
  • NOTE: Moody’s gave Rusal Ba3 rating on Oct. 7 with stable outlook
  • NOTE: In June: Rusal Gets AA+ Credit Rating With China Chengxin Securities Rating
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
336926Z RU (Basic Element Co)
486 HK (United Co RUSAL PLC)

People
Oleg Mukhamedshin (Russian Aluminum Management)

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