Russia's Rusal signs refinancing deal

Russia's Rusal aluminium giant said Thursday it had refinanced another $4.75 billion (3.5 billion euros) in debt that will open the way for shareholder dividend payments. The world's largest aluminium firm said a loan facility was agreed with 13 international and Russian banks that include BNP Paribas, ING Bank and the Royal Bank of Scotland.
Rusal signed a similar $4.58-billion deal with Sberbank last week and has now refinanced $9.33 billion of its estimated $11.4 billion debt. A 2009 restructuring agreement with creditors said dividend payments would only be allowed once most of the debts were either settled or restructured.