Russia Mechel expects restructuring deals next week
MOSCOW, July 10 (Reuters) - Russian coking coal and steel producer Mechel (MTL.N) said on Friday it expects to sign debt restructuring agreements with lenders next week.
"We are currently finalising the documentation with all the banks...we expect to sign the agreements next week," Chief Financial Officer Stanislav Ploschenko told analysts during a conference call.
It was not immediately clear whether the executive was referring to both a $1.5 billion bridge loan used to acquire chrome miner Oriel Resources and a $2.0 billion loan taken out to finance the purchase of the Yakutugol coal mine in 2007.
In the 20-F statement filed with the SEC last month the company said it was in refinancing talks with banks over both loans, and that it expected to complete these discussions in the second half of 2009. [ID:nLO257501] (Reporting by Alfred Kueppers)
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