Tuesday, June 13, 2017
"ALROSA" (PAO) announces early redemption of 28 February 2017 of bank loans in the amount of $ 600 million raised from VTB Bank (PJSC) in 2012 and prolonged in 2014 until October 2018.
Repayment of bank loans was achieved at the expense of own funds, bringing the size of the debt on loans decreased from $ 2.3 billion to $ 1.7 billion, the average interest rate on ALROSA loans decreased from 6.6% to 6, 3%.
ALROSA is confident that the current long-term cooperation with the companies of the VTB Group, one example of which was the interaction in the field of debt financing, will continue in the future.
"In accordance with a conservative liquidity management policy of ALROSA early repayment of long-term bank loans totaling $ 600 million, which reduced the average cost of borrowing and provide a comfortable schedule of repayment of debt," - said Vice President - Chief Financial Officer Igor Kulichik ALROSA.
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Lucapa Diamonds reported that in the auction of the sixth consignment of diamonds from the Lulo concession in Angola, it received 5.1 million Australian dollars.
A statement for the company's shareholders said that in total, Lucapa managed to sell 1,621 carats of diamonds at an average price of A $ 3132 per carat.
This indicator, as noted in the company, was achieved despite the current weakening of the global diamond market.
"The excellent average prices per carat we managed to earn for our diamonds significantly increases the value and planned revenues for every cubic meter of alluvial gravel extracted from Lulo," said Lucapa CEO Stephen Wetherall.
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