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ALROSA Repays Loans to VTB Bank

Mar 1, 2017 8:21 AM   By Rapaport News
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RAPAPORT... ALROSA has paid off $600 million of loans to VTB Bank ahead of their repayment date, the Russian miner said on Tuesday.

The company received the loans from VTB in 2012. In 2014, they were extended until October 2018.

As a result of the early repayment, the rough-diamond producer has reduced its loans and borrowings to $1.7 billion from $2.3 billion and lowered its average interest rate to 6.3 percent from 6.6 percent.

The company used cash from its operations to make the payment, it said.
Tags: Alrosa, finance, lending, loans, Rapaport News, Rough Diamonds, Russia, VTB, VTB Bank
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