Support The Moscow Times!

RusAl Repays $529M of Debt

RusAl said Monday that it had repaid $529 million of debt to international and Russian lenders.

The company said $517 million had been repaid April 20 and an additional $12 million will be repaid by the end of the month using funds received from a recent 15 billion ruble ($501.5 million) bond issue by its Bratsk subsidiary.

RusAl became the world's biggest aluminum producer through a string of acquisitions and expansion over the last decade, but the global economic crisis and subsequent downturn in aluminum prices sent the group into a debt crisis. It restructured $16.8 billion of debt late in 2009 and launched initial public offerings in Hong Kong and Paris in January.

(Reuters)

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

As we approach the holiday season, please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world’s largest country.