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RUSAL Receives $2 Billion Syndicated Loan

RUSAL has announced receipt of a $2 billion syndicated loan.

In July of this year, RUSAL announced the successful closing of its record breaking syndicated credit facility. The original amount sought was $1.5 billion and following strong demand from a range of international banks, the deal was significantly oversubscribed, with a total order book of $2.6 billion.

RUSAL and authorised bank-organizers have agreed to increase the amount of a syndicated loan up to $2 billion. The final transaction is therefore 30% higher than the size of the original facility. The loan is received in two parts — $1.5 billion, and $500 million respectively, the second part of the loan received on September 5, 2006.

According to the loan terms, the first part was provided by ABN AMRO N. V., Bank of Tokyo-Mitsubishi UFJ, BNP Paribas (Suisse) S.A., Calyon, Citibank NA., Natexis Banque Populaires, which were authorised organizers of the transaction and guaranteed underwriting of the initial loan to the amount of $1.5 billion. The Bank Natexis Banques Populaires became a transaction agent, a documentary agent, and a coordinating authorised organizer, with ABN AMRO N. V., BNP Paribas (Suisse) S.A., Calyon, Citibank NA acting as book-runners.

The following banks joined the transaction in the syndication phase: authorised organizers — Bayerische LB, HSBC, HSH Nordbank, Mizuho, SMBC, lead organizers — DZ Bank, Commerzbank, ING Bank, KBC Bank, KfW, Rabobank, RZB, Sanpaolo IMI SpA, an organizer — Nord LB, lead managers — BAWAG, Banca Intesa, Banque Cantonale Vaudoise, BBVA, Credit Suisse, DekaBank, Erste Bank, IKB, LRP, NM Rotschild & Sons, Ost West, Sachsen LB.

The funds raised will mainly be used to refinance RUSAL's existing debt, as well as on other general corporate purposes.

http://www.rusal.com

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