ALROSA announces liquidity improvement measures taken
As at 01 December 2014 ALROSA has $3.6 bn of bank loans and public debt instruments, including debt maturing in 2015: $600 mln of loans from JSC VTB Bank, RUB 20 bn of commercial ruble bonds, series 20–23, and exchange-traded ruble bonds, series BO-01 and BO-02.
In order to improve liquidity ALROSA extended the repayment terms of outstanding loan contracts worth $600 mln with JSC VTB Bank till 2018.
To create a liquidity source for repayment of commercial ruble bonds, series 20–23, and exchange-traded ruble bonds, series BO-01 and BO-02, ALROSA signed a $300 mln loan contract with ZAO UniCredit Bank maturing in 2017.
In consequence, ALROSA ensured repayment sources for short-term loans and borrowings to mitigate debt market access risks in 2015.