A second tranche of Panda bonds
United Company RUSAL plans to raise $75.81m through a second tranche of Panda bonds. The bonds will have a coupon rate of 5.5% a year and a tenor of at least two years.
United Company RUSAL (Russian: ОК РУСАЛ, /OK RUSAL/) is the world's second largest aluminium company by primary production output (as of 2016) It was the largest until overtaken by China Hongqiao Group in 2015. UC RUSAL accounts for almost 9% of the world's primary aluminium output and 9% of the world's alumina production.
The company has engaged China International Capital Corporation as the arranger and underwriter for the offering.