MOSCOW (AFP) – Russian metals giant Rusal has paid Russian and international creditors 2.14 billion dollars from the proceeds of its share listings on the Hong Kong and Paris stock exchanges, the company said Thursday.
"The company has paid its creditors 2.143 billion dollars from the proceeds of its share listings on the Hong Kong stock exchange and NYSE Euronext in Paris," the company said in a statement.
The repayments reduce Rusal's total outstanding debt to 12.9 billion dollars. The largest share of the repayment, 1.46 billion dollars, went to international lenders, the company said.
The economic crisis has left Rusal,the world's largest aluminium producer, billions of dollars in debt and it has been in complex talks with its creditor banks to restructure the debts.
In December it managed to trim its debt to 14.9 billion dollars (10.6 billion euros) through an agreement with its creditors.
The company, whose majority shareholder is Oleg Deripaska, last month launched an IPO on the Hong Kong and Paris bourses. It was the first Russian company to list on the Hong Kong stock exchange.
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