ALROSA Repays $85 Million Bank Loan
July 30, 15
(IDEX Online News) – ALROSA has announced that it has paid back an $85 million bank loan to VTB Bank (Austria) AG. The loan was payable in April 2016, but ALROSA repaid it in advance through cash from its operations.
As a result of the repayment, the Russian miner has reduced its loans and borrowings from $3.3 billion to $3.2 billion.
In October 2015, the company is scheduled to repay ruble bonds series BO-01 and BO-02, which were placed in October 2012, totaling RUB 10 billion ($169.2 million). The company said it plans to repay these bonds from cash currently accumulated on bank deposits worth more than RUB 28 billion ($473.9 million).