OREANDA-NEWS. RUSAL, one of the world's largest aluminium producers, has announced the first disbursement of US$674 million under its new US$1 billion loan facility.

On 20th December 2006 RUSAL effected its first drawdown under the short-term bridge facility for US$1 billion to finance сertain pre-agreed arrangements in anticipation of its merger with certain assets of the SUAL Group and Glencore under their October 2006 merger agreement.

The facility is arranged by BNP Paribas, Calyon, Citigroup and Natixis who act as Mandated Lead Arrangers. BNP Paribas was appointed Documentation Bank and will act as Facility Agent.

The bridge facility is distinguished by its unsecured nature, reflecting increased confidence of the banking community in RUSAL's solvency and the strength of its commitments.

With a tenor of one year, the facility is expected to be refinanced by a syndicated global financing following completion of the merger transaction.