RLPC-RUSAL set for more debt talks with banks-sources
LONDON/MOSCOW, Sept 15 |
LONDON/MOSCOW, Sept 15 (Reuters) - Russian aluminium firm UC RUSAL's deadline to restructure $7.3 billion of foreign debt, which expires on Friday, will be extended by the banks to finalise documentation, senior bankers said.
The debt standstill agreement is expected to be extended by 2-4 months, the sources told Reuters.
Russian magnate Oleg Deripaska's RUSAL and the coordinating committee representing the company's banks presented the restructuring proposal to 70 international lenders at the end of July, setting a Sept. 18 deadline for agreement.
The senior bankers remain optimistic that the restructuring proposal will be passed.
"As I understand it is a question of documentation work, which appears to require more time than was expected," one of the bankers said.
(Reporting by Christopher Mangham in London, Melissa Akin and Oksana Kobzeva in Moscow)
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