CAPITAL MARKETS

ERG restructures debt

Eurasian Resources Group (ERG), the successor company to London-listed ENRC, has signed an agreement with VTB Bank to change the terms of its debt financing, providing the company with the financial flexibility to move its pipeline of projects forward.

One of ERG's aluminium smelters, Kazakhstan

One of ERG's aluminium smelters, Kazakhstan

The agreement pushes repayments for its US$3 billion facility out to 2022, changes the debt payment schedule and optimises its financial covenants, ERG said. According to chairman Alexander Machkevitch,...

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