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.


Read more

We need your help now more than ever.

Independent media outlets and journalists in Russia are being increasingly targeted with “foreign agent” and “undesirable” labels, threatening the existence of the free press day by day.

Your donation to The Moscow Times directly supports the last independent English-language news source within Russia.