RUSAL Signs Sustainability-Linked Syndicated Pre-Export Finance Facility in Russia

Release time：Nov 04, 2019 From：admin

RUSAL announced the signing of a new five-year sustainability-linked pre-export finance facility for USD 1,085,000,000. The size of the facility increased from the initially announced USD 750 million as the market supports the Company’s commitment to low-carbon aluminium technologies and green aluminium production. The signed facility is the first ever sustainability-linked syndicated facility arranged by international and Russian commercial banks in Russia. The interest rate is subject to a sustainability discount or premium depending on the Company’s fulfilment of the sustainability key performance indicators.

Sustainability KPIs are related to the Company’s environmental impact and sustainable development and include the growth targets of ALLOW aluminium sales, RUSAL’s low-carbon aluminium produced with hydropower.

Other KPIs also cover the reduction of carbon footprint and decrease of fluoride emissions. They will be measured annually and verified by an independent and specialized third party.

The proceeds of the facility will be used to partly refinance the principal outstanding under the existing up to USD 2 billion pre-export finance facility that was drawn in May 2017.