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Reuters Loan Pricing Corp scoop on UC RUSAL government rescue

Reuters Loan Pricing Corp scoop on UC RUSAL government rescue

Working banking sources earned Reuters a scoop on Nov 4 that Russia’s richest man, Oleg Deripaska, had secured $4.5 billion refinancing from a Kremlin-backed rescue package so that United Company RUSAL, the aluminum giant, could keep its stake in Norilsk Nickel. The refinancing deal was the first in Russia’s $50 billion government rescue plan for troubled companies to restructure Western loans, and it was widely reported the next day in competing news media.

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