Alrosa repays $370 million bank loan

ALROSA repaid a $370 million bank loan to JSC UniCredit Bank which it had received in April 2014. The loan was repaid on 14 December 2016 with cash from operations, thus reducing debt down to $2.3 billion.

"As part of the consistent implementation of the balanced strategy of liquidity management and deleveraging, we repaid bank loan from JSC UniCredit Bank ahead of schedule. Early debt repayment became possible due to increased FCF, which is related to main products sales recovery in 2016", - commented Igor Kulichik, CFO, Vice President of ALROSA.