MOSCOW – Russian aluminium giant Rusal said on Friday the second tranche of its Panda bonds with the principal of 500-million yuan had been priced, with a tenor of 2+1 years and a coupon rate of 5.5% per year.
The proposed offering of the Panda bonds is expected to be completed before Sept. 5, 2017, the company said.
Rusal intends to use the proceeds from the issue for refinancing its current debts and for working capital needs, including the procurement from Chinese suppliers.