Rusal May Seek to Refinance Russian Debt With Foreigners

Posted on February 4, 2015 by Nanthakumar Victor Emmanuel Leave a comment

(Bloomberg) — United Co. Rusal, the world’s largest aluminum producer, may seek to refinance the debt it holds in Russian state banks with international lenders at a better rate.

“We are comfortable with the debt as we refinanced it in time, but we are not comfortable with the rate we have under the Russian bank loans,” Chief Executive Officer Vladislav Soloviev said in an interview in Moscow this week. “I don’t see new investment projects as possible in the next couple of years in Russia because of such rates.”