MELBOURNE, June 27 United Company Rusal Plc
has won another reprieve from lenders, extending a
deadline to refinance $3.6 billion in debt to the end of October
while it seeks court approval for a debt restructuring that is
being blocked by a few lenders.
To get around the 6 percent of lenders standing in the way
of the debt deal, the world's top aluminium producer said it
would apply to UK courts to approve a scheme of arrangement that
has been backed by most of its creditors.
"We are pleased that efforts to refinance our debt portfolio
have attracted such significant lender support. We are
disappointed, however, that these have not been supported by a
very small minority of lenders," Rusal's deputy chief executive,
Oleg Mukhamedshin, said in a statement on Friday.
(Reporting by Sonali Paul; Editing by Richard Pullin)