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Russian aluminium giant secures debt restructuring

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Russian aluminium giant secures debt restructuring

Russian aluminium giant secures debt restructuring
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Russian aluminium giant UC Rusal has reached agreement with creditors in Russia’s biggest ever debt restructuring, allowing the cash-strapped company to raise around 1.3 billion euros via a share issue.

Rusal has been in talks for close to year to find a solution to its 5 billion euro foreign debt. A British fund is one of 70 international lenders involved in the restructuring.