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Emirates Global Aluminium in talks to refinance $6 bln loan - sources

·1 min read

DUBAI, June 23 (Reuters) - Emirates Global Aluminium, one of the largest aluminium firms in the world, is in talks with banks to refinance and change the terms of a loan of about $6 billion it secured in 2019, two sources with knowledge of the matter said on Wednesday.

The United Arab Emirates firm, which is owned equally by Abu Dhabi state fund Mubadala and Investment Corporation of Dubai, is seeking to extend the tenor and lower the pricing of the seven-year loan through a refinancing facility to take advantage of low rates, the sources said.

"EGA is fortunate to have a large relationship bank group who support our business. We are always looking at ways to optimise our financing arrangements," the company said in response to a Reuters request for comment. (Reporting by Davide Barbuscia and Yousef Saba)