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Mechel OAO Raises USD 1 Billion in Loans from Gazprombank OAO-Interfax


Monday, 29 Apr 2013 07:02am EDT 

Interfax reported that Mechel OAO has signed a number of credit agreements with Gazprombank OAO worth a total of USD 1 billion. Coal mining units Yakutugol and Southern Kuzbass will borrow USD 490 million and USD 400 million, respectively. The credit lines with the possibility of drawing down funds can be used for a one-year period, with a five-year repayment period for each tranche. The loans have a three-year grace period and repayment in equal quarterly installments over the last two years. In the steel division, Beloretsk Metallurgical Plant signed a loan agreement for RUB 1.7 billion (USD 54 million) and Urals Stampings Plant signed another for 1.6 billion (USD 50 million). For the steelmaker the credit lines can be used with RUB the possibility of drawing down funds during a three-year period. The maximum period for each tranche is two years with repayment at the end of such period. 

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0.8202
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30 Oct 2014