UPDATE 1-Russia's Rusal repays 27 bln rbls in debt to Sberbank ahead of schedule

(Adds details, context)

MOSCOW, Sept 10 (Reuters) – Russian aluminium producer Rusal has repaid 27 billion roubles ($371 million) in debt to Russian bank Sberbank ahead of schedule, Rusal said in a statement on Friday.

Rusal still owes Sberbank, Russia’s largest bank, $2.1 billion and 79.5 billion roubles as part of the loan, which is due at the end of 2027 and is secured against part of Rusal’s 25.5% stake in metals miner Nornickel.

The ahead-of-schedule payment was made in August from Rusal’s free cash flow, a substantial part of which was contributed by Nornickel’s dividend payments to Rusal, the aluminium producer said.

Source: Read Full Article