OREANDA-NEWS. February 03, 2010. En+ Group today announced the completion of USD 1.05bn loan refinancing, after a new facility agreement was signed with 40 lending banks.

The agreement, which has already taken effect, provides for an extension of the initially agreed loan periods till the end of 2013, with interest payments under the loans to be almost fully capitalized.

This facility agreement is the final stage of the loan restructuring of En+ Group and the Group companies, after another one of the Company's assets, Montenegro-located Kombinat Aluminijuma Podgorica, and UC RUSAL, of which En+ Group is the majority shareholder, had their debts refinanced in November 2009 and December 2009, respectively.

En+ Group CEO Vladislav Soloviev commented: "The debt refinancing of En+ Group has been one of the largest deals of the kind in Russia. We've got terms and conditions that enable us to proceed with our development and reach our strategic objective, which is building a diversified world-class energy company".