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> 11-09-2017

UC RUSAL is pleased to announce that the second tranche of the Panda Bonds have been priced at principal amount of RMB 500 million, with a tenor of 2+1 years and a coupon rate of 5.5 per cent per annum.
The proposed offering of the Panda Bonds is expected to be completed before 5 September 2017.

‘RUSAL successfully taps the Chinese bond market through the second placement on the Shanghai Stock Exchange.
We are very pleased to see continuous interest from Chinese investors and their support to RUSAL as the first overseas company with global operations outside of China to enter this market,’ said Director for Strategy, Business Development and Financial Markets Oleg Mukhamedshin.

The Company will use the proceeds of the issuance for refinancing the Company's current indebtedness, and for working capital needs including the procurement from Chinese suppliers.

China International Capital Corporation Ltd. acted as the sole Arranger and Underwriter of the deal.

Earlier this year RUSAL registered its prospectus for a Renminbi denominated bonds issue (Panda bonds), totaling up to 10 billion yuan (USD1.5 billion) with a tenor of up to 7 years.
In June 2016, RUSAL was assigned an AA+ corporate credit rating with Stable outlook by CCXR, China Chengxin Securities Rating Co., Ltd., one of the largest credit rating agencies in China.
Tranches of up to RMB2.4bln are fully secured by guarantees provided by China United SME Guarantee Corporation that allows for the highest AAA credit rating.

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