Alrosa uses gas sale proceeds to repay loans

By Creamer Media Reporter      / March 12, 2018 / www.miningweekly.com / Article Link

JOHANNESBURG (miningweekly.com) – Diamond miner Alrosa has used the proceeds of the cash sale of its gas assets to repay $450-million in bank loans.

The company announced on Monday that it had repaid a $250-million loan from Rosbank and a $200-million portion of its existing Raiffeisenbank loan, reducing its debt by more than 27% to $1.17-billion.

Advertisement

The early repayment of the loans would save Alrosa $9-million in interest payments, deputy CEO and CFO Alexey Philippovskiy said in a statement.

Russian non-State gas producer Novatek last month won a 30-billion-rouble bid for Alrosa’s two noncore gas assets.

Advertisement

Recent News

Gold stocks outperform, New Found Gold down on initial MRE

March 31, 2025 / www.canadianminingreport.com

Global Mining M&A sees moderate gain in 2024

March 31, 2025 / www.canadianminingreport.com

TSX/TSXV mining could continue to see strong equity capital raising 2025

March 24, 2025 / www.canadianminingreport.com

Gold stocks continue to outperform in move into defensives

March 24, 2025 / www.canadianminingreport.com

Gold stocks reach new highs

March 17, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok