Emirates Global Aluminium, the UAE’s largest industrial company outside the oil and gas sector, has secured a $5 billion multi-tranche debt financing as it continues to expand globally.
The financing includes conventional and Sharia-compliant facilities arranged with a group of 21 regional and international banks, EGA said in a statement on Friday.
It includes term loans and revolving credit facilities with tenors of up to five years.
The transaction “attracted strong interest from financial institutions across the Middle East, Europe, Asia and North America, with demand significantly in excess of the facility amount”, the company said.
EGA will use the proceeds to refinance existing debt and support strategic initiatives.
The transaction will provide “additional financial flexibility to execute long-term plans, while further strengthening the company’s balance sheet and debt maturity profile”, it added.
The company is focused on “long-term value creation for our shareholders, including through capital structure optimisation”, said chief executive Abdulnasser Bin Kalban.
EGA this week reported net profit of $578 million for 2025, down from $715 million in 2024, mainly because of a $765 million charge from its subsidiary Guinea Alumina Corporation (GAC), which operated a bauxite mine in the West African country.
Excluding GAC, underlying net profit was up by 16 per cent to $1.34 billion, said, which is jointly owned by the Abu Dhabi sovereign wealth fund Mubadala and Dubai sovereign wealth fund ICD.
Guinea last year terminated a bauxite mining agreement awarded to GAC and revoked its licence, disrupting a key source for EGA.
The company said it moved quickly to secure alternative supplies, arranging new bauxite shipments from Australia, Ghana and Brazil to ensure continuity of operations.
EGA signed term contracts covering more than 70 per cent of volume needs, with purchases managed through framework agreements to ensure the security of supply and flexibility, it said.
EGA last year sold 2.83 million tonnes of cast metal to more than 400 customers in 50 countries, up from 2.77 million tonnes in 2024. The share of value-added products – premium aluminium – was 81 per cent in 2025, it said.
Earnings before interest, tax, depreciation and amortisation (Ebitda) – excluding GAC – rose nearly 6.8 per cent annually to $2.53 billion last year, driven by “higher average realised aluminium prices, continuing improvement work and higher sales”.
The average realised London Metal Exchange aluminium price was $2,610 per tonne in 2025, up from $2,392 per tonne in 2024, due to increased demand, aluminium supply disruptions and a weaker US dollar.
Last month, EGA also signed a joint development agreement with Century Aluminium to build the first new primary production plant for the metal in the US in four and a half decades. Under the agreement, EGA will own 60 per cent of the joint venture, with Century controlling the remainder.
The plan to build the plant in Inola, Oklahoma was announced last May, with EGA saying at the time it will invest $4 billion in the venture.
EGA said the new plant will be the US's largest primary aluminium production facility. The complex is expected to produce 750,000 tonnes of aluminium a year, which will more than double current US production.
