23 Oct 2009 18:50


MOSCOW. Oct 23 (Interfax) - Alfa-Bank has agreed to restructure debt owed by Glavmosstroi, which is part of Oleg Deripaska's BasEl Holding.

"There is no shame in the terms of the restructuring but they are in agreement with the bank's loan committee," the deputy chairman of Alfa-Bank's managing board, Vladimir Tatarchuk, told journalists.

He added that the agreements foresee refinancing Glavmosstroi's debt to Alfa-Bank through other lending institutions.

It was earlier reported that Alfa-Bank had filed a suit for Glavmosstroi's bankruptcy. The construction company, in turn, tried to prove in court the invalidity of the loan agreements with the bank and introduce changes to them in light of the substantial changes in the economic situation.