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RUSal aluminum co. to raise $1.5 bln syndicated loan -1

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MOSCOW, May 26 (RIA Novosti) - RUSal will take out a $1.5 billion syndicated loan to help refinance its debt, the aluminum giant said in a news release Friday.

The company, one of the world's top three steel and alloy producers, said the loan would come in two amortizable tranches of $750 million for a term of five and seven years.

Syndication will open in early June. The loan facility will go to refinance the company's current debt of $2.9 billion.

The loan is being managed by ABN AMRO N.V., Bank of Tokyo-Mitsubishi UFJ, BNP Paribas (Suisse) S.A., Calyon, Citibank NA., Natexis Banque Populaires, with Natexis Banques Populaires coordinating the agreement.

Natexis Banques Populaires is also the agent and documentary agent on the deal, and ABN AMRO N.V., BNP Paribas (Suisse) S.A., Calyon, Citibank NA.are bookrunners.

"We are setting a new record among Russian private companies for attracting loans on international markets," said RUSal deputy financial director Oleg Mukhamedshin.

"The sum of the loan and its timeframe are unprecedented for the Russian metal corporation," he said.

Founded in March 2000 after a merger of major aluminum plants in the former Soviet Union, RUSal exports aluminum to 50 countries, and operates in nine Russian regions and 13 countries. The company holds 75% of the Russian market and 10% of the international market.

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