Rusal Announces Standstill Agreement Extension until End of October
OREANDA-NEWS. September 24, 2009. RUSAL, the world's largest aluminium and alumina company, announces that the standstill agreement has been extended until the end of October due to the fact that additional time is required to gain the approval of the restructuring terms with such a large amount of international lenders, with each of the lenders getting approval from its credit committee. At the same time, we are now completing negotiations with the Russian banks and expect that by the end of September it will be finalised. By the end of October, RUSAL and its lenders intend to complete all the procedures on restructuring.
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