RLPC-En+ Group signs increased $750 mln loan

LONDON, Feb 15 (Reuters) - En+ Group, part of Russian billionaire Oleg Deripaska's Basic Element investment group, said on Friday it has signed its debut $750 million syndicated loan.

The borrower said the loan was increased from $700 million after it closed oversubscribed, confirming a report by Reuters Loan Pricing Corp in January.

En+ Group is the flagship energy and aluminium business of Basic Element and owner of two thirds of Russian aluminium giant United Company RusAl.

Proceeds will be used to refinance existing debt and for new projects in the Russian energy sector.

ABN AMRO, Credit Suisse, Deutsche Bank, Goldman Sachs, Morgan Stanley, Natixis and RZB arranged the loan. A further 13 banks joined the deal in syndication.

The loan, which pays a margin of 325 basis points over LIBOR, is a three-year facility with amortising repayments that start after a one-year grace period.

(Reporting by Christopher Mangham; Editing by Erica Billingham)