RUSAL's $2 bln IPO eyed by 16-plus banks - sources

MOSCOW, Oct 27 - At least 16 investment banks are in the running for a planned $2 billion stock market flotation by the world's biggest aluminium producer UC RUSAL, banking sources told Reuters on Tuesday. "The list already includes 16 banks," one banking source said. "I know that there is a huge syndicate," another source added, although a third said that the final number had yet to be decided. The sources named Credit Suisse , Chinese BOCI International and BNP Paribas as possible global co-ordinators of the placement. They said RUSAL, controlled by tycoon Oleg Deripaska, had a meeting with analysts last week, which sources believe indicates that the company intends to launch the IPO in December. The IPO is set to be launched in Hong Kong and in Paris. RUSAL plans to use the proceeds to reduce outstanding debts of around $16.8 billion. [ID:nL5562033] It said on Monday that banks had agreed to restructure half its international debt but it declined to comment on the IPO. [ID:nLQ177938] (Reporting by Olga Popova, writing by Aleksandras Budrys, Editing by John Bowker, John Stonestreet)