Rusal revives IPO talk as $17bn loans restructure gains local bank support

Russia’s United Company Rusal, which is the final stages of a $17bn restructuring, insisted this week that its local lenders would not derail the process and would accept much the same terms as international banks. Oleg Mukhamedshin, the aluminium group’s director of capital markets, also told EuroWeek that Rusal would not sell any of its key assets, including its 25% stake in Norilsk Nickel and would instead reduce its debt through a long-delayed initial public offering.