ALROSA has attracted two long-term bank loans for a total amount of $1,090 million with a maturity of 3 years. The loans were extended to the company on 28 April 2014. This was announced in the company’s press release received by Rough&Polished on Wednesday.
The loans were allocated for early repayment of $820 million bank loans with maturity in June and December 2014. As of 30 April 2014, ALROSA’s bank loans and public debt instruments account for $4 billion, of which 88% is long-term debts.
The debt increase of $270 million was due to a liquidity source created by the company to pay off $500 million worth of Eurobonds in November 2014.