Alrosa makes $85 million bank loan repayment

Mining giant Alrosa announced having repaid in advance the $85 million bank loan due to VTB Bank (Austria) AG in April 2016. It made the payment on 29 July 2015. The bank loan was repaid through the company’s cash from operations. As a result, Alrosa reduced loans and borrowings from $3.3 billion to $3.2 billion.

In October 2015, Alorsa is set to repay ruble bonds series BO-01 and BO-02 placed in October 2012 totalling RUB 10 billion. Alrosa plans to repay these bonds from cash currently accumulated on bank deposits worth of more than RUB 28 billion.