UC RUSAL interest margin 4pct

Reuters reported that Russian aluminum group UC RUSAL interest margin is 4% down from an earlier 4.5% in line with an existing covenant agreement.

The reduction in the interest margin in accordance with the IOA has been triggered by the total net debt to covenant EBITDA ratio falling below 4:1 based on the company's results for the first quarter of 2011.

RUSAL said last month that it reduced net debt by USD 860 million in the Q1.