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Alrosa will take a loan from Alfa-Bank - 720 million dollars
The Supervisory Board of ALROSA, the world leader in diamond mining, has approved a $ 720 million loan from Alfa-Bank. This was said in a statement.
Funds are raised to refinance debt on short-term bank loans from Alfa-Bank and other banks, as well as on public placements of debt financial instruments (Eurobonds) and replenishment of working capital, the report says. The loan is granted for 3 of the year, the interest rate is 4,3% per annum.
The Supervisory Board of ALROSA has also included in the agenda of the company's annual shareholders meeting the issue of approving transactions with VTB Bank. We are talking about those transactions that can be made in the future for a total amount of up to $ 3 billion.
In particular, we are talking about lending to 1 billion dollars for a period of 1 year.
Also, transactions with VTB can be concluded during the year on trade finance transactions, deposits, conversion and derivative transactions, the report says.
ALROSA is engaged in the exploration, mining, production and sale of diamonds. The company is mining diamonds in the Republic of Sakha / Yakutia / and the Arkhangelsk region. In 2013, ALROSA produced 36,9 million carats of diamonds, in 2014 it expects diamond production at the level of 36 million carats. Starting from 2019, ALROSA plans to reach an average production level of about 41 million carats of diamonds per year. Capital investments of AK ALROSA for 2013-2021 are projected at 256 billion rubles.
The largest shareholders of AK ALROSA are the Russian Federation (44%) and the Republic of Sakha (Yakutia) - 25%, 23% of the company's shares are in free circulation.