United Company RUSAL Plc: Inside Information Update on Sberbank Facility Agreements

25-Aug-2017 Intellasia | BusinessWire | 6:45 AM Print This Post

HONG KONG–(BUSINESS WIRE)–Regulatory News:

United Company RUSAL Plc (Paris:RUSAL) (Paris:RUAL):

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of
Hong Kong Limited take no responsibility for the contents of this
announcement, make no representation as to its accuracy or completeness
and expressly disclaim any liability whatsoever for any loss howsoever
arising from or in reliance upon the whole or any part of the contents
of this announcement.

UNITED COMPANY RUSAL PLC
(Incorporated under the laws of
Jersey with limited liability)

(Stock Code: 486)

INSIDE INFORMATION
UPDATE ON SBERBANK FACILITY AGREEMENTS

This announcement is made by United Company RUSAL Plc (the “Company
and together with its subsidiaries, the “Group”) pursuant to Rule
13.09 of the Listing Rules and the Inside Information Provisions under
Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the
Laws of Hong Kong).

Reference is made to the announcements of the Company dated 30 November
2011, 27 February 2014, 10 March 2014 and 26 August 2014 (the “Announcements”)
in relation to various facility agreements with Sberbank of Russia (the “Existing
Agreements
”). Capitalized terms used herein have the same meanings
as those defined in the Announcements unless otherwise specified.

The Company announces that the various parties to the Existing
Agreements have agreed (subject to signing of the respective
documentation) to novate the Existing Agreements and enter into the new
combined credit facility agreement (the “Combined Credit Facility
Agreement
”) with the key terms as described below.

(a) Maturity

The final maturity is extended for 3 years until 24 December 2024.
Quarterly repayments starting from March 2021 shall be repaid according
to the repayment schedule set out therein.

(b) Interest rate

Starting from the date of execution of the relevant documentation: 3
month LIBOR (subject to minimum rate of 3 month LIBOR at the level of
1%) + 3.75% p.a.

(c) Covenants and undertakings

Certain financial covenants, undertakings and non-financial covenants in
the Existing Agreements that are in accordance with the Combined PXF
Facility (as disclosed in the announcement of the Company dated 26 April
2016) shall be substituted in the Combined Credit Facility Agreement by
certain obligations that are in line with the PXF 2017 (as disclosed in
the announcement of the Company dated 25 May 2017).

(d) Security documentation

Amendments will be made to the security documentation signed between
certain members of the Group and Sberbank in order to reflect the
changes stated in the Combined Credit Facility Agreement.

Shareholders and potential investors are advised to exercise caution
when dealing in the securities of the Company.

By Order of the Board of Directors of
United Company RUSAL
Plc

Aby Wong Po Ying
Company Secretary

25 August 2017

As at the date of this announcement, the executive Directors are Mr.
Oleg Deripaska, Mr. Vladislav Soloviev and Mr. Siegfried Wolf, the
non-executive Directors are Mr. Dmitry Afanasiev, Mr. Ivan Glasenberg,
Mr. Maksim Goldman, Ms. Olga Mashkovskaya, Ms. Gulzhan Moldazhanova, Mr.
Marco Musetti, Ms. Ekaterina Nikitina, Mr. Maxim Sokov, and Mr. Daniel
Lesin Wolfe and the independent non-executive Directors are Mr. Mark
Garber, Mr. Philip Lader, Dr. Elsie Leung Oi-sie, Mr. Dmitry Vasiliev,
Mr. Matthias Warnig (Chairman) and Mr. Bernard Zonneveld.

All announcements and press releases published by the Company are
available on its website under the links http://www.rusal.ru/en/investors/info.aspx,
http://rusal.ru/investors/info/moex/
and http://www.rusal.ru/en/press-center/press-releases.aspx,
respectively.

Contacts

United Company RUSAL Plc

 


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