Aluminium giant Rusal secures fresh US$4.6 billion credit line

MOSCOW -- The world's largest aluminium producer Rusal said Tuesday it has secured a credit line of US$4.6 billion (3.5 billion euros) from Russia's largest bank Sberbank to cover debt repayments. “The proposed credit of US$4.59 billion covers the debt and interest due to VEB” for a bank loan taken out in 2008, Rusal said in a statement. The Sberbank credit runs until December 2013 and can be extended for 18 months. The arrangement is subject to approval by Rusal's international creditors.