Oleg Deripaska's UC Rusal is considering seeking an agreement from its more than 70 foreign banks to give it time to restructure nearly $17bn in debts, people familiar with the situation said yesterday.
Rusal is weighing up seeking a "standstill" agreement as Mr Deripaska's aluminium group grapples with billions of dollars in debt and plummeting revenues due to falling aluminium prices.
A standstill is an agreement by lenders not to take any unilateral action to enforce any of their debt claims against the company.
No comments:
Post a Comment