UPDATE: Rusal signs standstill, focus shifts to restructuring plan

Russian aluminium company Rusal has signed a standstill agreement with its domestic and international lenders, giving it two months to restructure its debt, which the company puts at $14bn. Roughly half of that is held by foreign lenders, it emerged on Friday after Rusal disclosed further details surrounding the restructuring.

  • 09 Mar 2009
International lenders’ exposure to Rusal totals $7.4bn, and the borrower said the standstill agreement covered more than 30 transactions, including syndicated loans, bilaterals, bank guarantees and letters of credit. It disclosed that over 70 banks were involved in the negotiations, although Rusal said the standstill had received the ...

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1 BNP Paribas 12,508 23 18.18
2 Bank of America Merrill Lynch (BAML) 8,059 25 11.72
3 Lloyds Bank 5,761 18 8.38
4 Citi 5,606 15 8.15
5 JP Morgan 5,007 7 7.28

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4 JPMorgan 69,438.13 198 8.13%
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