RUSAL says banks extend debt standstill for a month

MOSCOW, May 12 - A standstill agreement on $7.4 billion worth of debt repayments by the world's top aluminium firm UC RUSAL to foreign banks has been extended for one month to June 11, RUSAL said on Tuesday. "The agreement on the postponement of the main debt repayment is being extended for a month in accordance with the March agreement," a RUSAL press office statement said. The press office declined to provide details. In March, RUSAL, controlled by indebted Russian billionaire Oleg Deripaska, won a two-month grace period to restructure the debt held by more than 70 international banks with a possible 1-month extension. [ID:nL6502607]