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Emirates Global Aluminium secures $6.5 bln loan

Published: Updated:

Emirates Global Aluminium (EGA) said on Thursday it had secured a $6.5 billion loan from a group of international and regional banks to refinance part of its debt.

EGA, the product of a merger between two state-owned aluminium companies - Dubai Aluminium (Dubal) and Abu Dhabi’s Emirates Aluminium in 2013 - is jointly owned by Abu Dhabi investment fund Mubadala and state company Investment Corporation of Dubai.

EGA’s debt includes a $4.9 billion, seven-year loan agreed with banks in December 2015.