Jul 30, 2015

Alrosa Makes Advance Repayment of $ 85 mln Loan to VTB Bank

Alrosa has announced that it has completed advance repayment of the $85 mln bank loan payable to VTB Bank (Austria) AG on July 29. The loan was due for payment in April 2016. As a result, Alrosa has reduced loans and borrowings from $3.3 bn to $3.2 bn.

The company said that the loan was repaid through cash from operations.

The statement also announced that in October 2015, Alrosa intends to repay ruble bonds series BO-01 and BO-02 placed in October 2012 totaling RUB 10 bn. These will be repaid from cash currently accumulated on bank deposits worth over aRUB 28 bn.