Rusal gets reprieve from lenders to restructure debt

By Michael Turner
10 Apr 2014

Russia's Rusal has edged away from default after banks gave it more time to hammer out a restructuring plan for $5.15bn of debt.

Lenders to the world's largest aluminium producer have signed a forbearance agreement.

It states that from April 8 until at least July 7, lenders will not seek any action against any companies in the Rusal group for failing to repay debt instalments or breaching covenants. Meanwhile, the company ...

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