Rusal lines up $4.75bn loan

UC Rusal, the world's largest aluminium producer, said yesterday it had mandated 12 banks to arrange a loan of up to $4.75bn (£2.9bn). The banks, including BNP Paribas, WestLB and ING, will provide Rusal’s loan to allow the firm to pay off debts. The interest rate on the facility will be the three-month LIBOR plus margin, with the current margin being 2.35 per cent per annum. Rusal said the high level of interest in the deal demonstrated market confidence in the company.