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Alrosa Raises $500M Loan

Russian diamond miner Alrosa has raised a $500 million loan from UniCredit bank to refinance its debt, the bank said in a statement Wednesday.

The loan's current maturity of six months can be extended to one year, the bank said.

Alrosa is preparing for a share placement that could value the business at up to $15 billion. Its share sale, which the Russian government has been promising since the mid-2000s, is due to be carried out on the Moscow exchange in October or November.

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