Successful Syndication of the Rusal Financing
In August 2003, WestLB AG arranged a US$ 200 million financing for Rusal, the Russian aluminium manufacturer, in cooperation with Société Générale and ING Bank N.V. as Mandated Lead Arrangers. The deal has now been successfully syndicated in the market.
Rusal was established in March 2000 through the merger of several large aluminium mills in Russia and is the world’s second biggest manufacturer of aluminium with an annual output of some 2.5 million tons. The company accounts for 75% of the Russian and 10% of the global aluminium production and has established itself as a vertically integrated group headquartered in Moscow with 18 production sites.
The revolving credit facility with a term of two years covers working fund requirements, supporting three aluminium production plants in Siberia. The facility will be repaid from the proceeds of aluminium exports to international customers.
WestLB AG has been one of the first western banks to finance Rusal since 2000; the current facility is already the third successful financing arranged for this client by WestLB’s GSF Commodity Finance unit. The constructive and close cooperation of the three lead arrangers reflects their positive experience with Rusal. The banking syndicate furthermore includes Commerzbank AG, UFJ Bank Limited and Banque de Commerce et de Placements SA.
For further information, please contact:
Dirk Fehring, 0211-8265210, Dirk_Fehring@WestLB.de
Franziska Thym, 0211-8264708, Franziska_Thym@WestLB.de
Dr. Holger Müller, +7095-2586136, Dr_Holger_H_Mueller@westlb.com.ru