Rusal reaches restructuring agreement

Rusal reached a “landmark” restructuring agreement with its main lenders in Wednesday, easing the burden of the aluminium group’s $14bn debt pile. The Russian borrower agreed terms with its steering committee to repay the $7.3bn it owes foreign lenders over the next seven years.

  • 30 Jul 2009

The restructuring, which is subject to credit committee approval and expected to be finalised by September 18, is split into two parts.

Rusal will pay back $5bn over the next four years. However, principal repayments will be made on a “pay-if-you-can” basis, linked to the price of aluminium. Interest ...

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