HONG KONG, April 9 Russian aluminium giant
United Company Rusal Plc said on Wednesday it has won
consent from a majority of lenders not to take action against it
in the case of potential defaults for the next three months.
Rusal said it is continuing to seek unanimous consent from
its lenders in relation to $4.75 billion of syndicated
facilities and $400 million of syndicated facilities that would
be combined into a single facility agreement.
Each of the lenders had agreed not to take any steps to
start insolvency proceedings against the company between April 8
and July 7 if it fails to repay instalments, Rusal said in a
filing to the Hong Kong bourse.
The company will continue to pay any and all accrued
interest on loans outstanding, it added.
Rusal told Reuters last week it was continuing talks with
lenders to agree certain forbearances and to agree not to
exercise their rights in the case of a covenants breach
effective until July 7.
For full statement please clicks (link.reuters.com/qaz38v)
(Reporting by Donny Kwok; Editing by Richard Pullin)