Abu Dhabi-Mubasher: Emirates Global Aluminium (EGA) is seeking to get $4.9 billion loan for duration of seven years, according to a EGA’s statment.

EGA, which is owned equally by Mubadala Development Company, mandated BNP Paribas, Citibank, Dubai Islamic Bank, Emirates NBD, ING, National Bank of Abu Dhabi, and Natixis to arrange the loan.

This step comes among a series of deals that are being undertaken to improve the company’s capital structure, said Samer Jumean, EGA's Head of Financing and Capital Markets activities.

The loan has been structured with a three-year grace period, and a balloon payment of 30% on maturity to refinance existing projects obtained by Emirates Aluminium (Emal) in 2007 and 2012.