Tuesday 1 July 2014

RusAl One Step Closer to $3.6 Billion Debt Deal | News | The Moscow Times

RusAl One Step Closer to $3.6 Billion Debt Deal | News | The Moscow Times:



"Russian aluminum giant RusAl has approval for a $3.6 billion debt restructuring deal from another of its creditors, German financial services provider Portigon, two sources familiar with the decision said.



The move brings RusAl, the world's largest aluminum producer, a step closer to reaching a deal that will revise the terms of its syndicated debt, giving the company time to turn itself around after a slump in aluminum prices.



The deal has yet to be approved by one creditor — Britain's part-nationalized lender Royal Bank of Scotland, one source told Reuters."



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