Corporate debt in Eastern Europe

Bloomberg reports:

OAO United Aircraft Corp. will help its Finance Leasing Co. unit repay $250 million to bondholders after it became the first state-run Russian company in more than a decade to default on a foreign-currency coupon payment, Deputy Prime Minister Sergei Ivanov said.

Bloomberg also reports that Russian companies owe some $100 billion in foreign-currency debt due in 2009. Estimates for all emerging market corporations in 2009 range from $1.25 to $2 trillion.