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.
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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