Russia's Mechel signs loans with Gazprombank total worth $1 bln

MOSCOW, April 29 Mon Apr 29, 2013 8:58am EDT

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MOSCOW, April 29 (Reuters) - Russian steel group Mechel signed several loan agreements with Gazprombank totalling $1 billion, the company said in a statement on Monday.

The New York-listed coal, iron ore and steel group, one of Russia's largest, has backed off from selling up to 25 percent of its mining division because of market conditions, sources with knowledge of the matter said last week. (Reporting by Polina Devitt; Editing by Douglas Busvine)

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