News: Mechel OAO (MTL)

MTL on New York Consolidated

22 Jul 2014
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Thu, Jul 10 2014

UPDATE 2-Bankruptcy is option for Russia's Mechel, minister says

* Sberbank, VTB, Gazprombank are the main Mechel creditors

Russian minister says supports saving Mechel with bankruptcy law one option

MOSCOW, July 10 - Russian Industry Minister Denis Manturov said on Thursday he supported returning indebted miner Mechel to financial health within the framework of bankruptcy law or by creating a managing company, RIA Novosti news agency reported.

UPDATE 2-Russia's VEB bank says will not help bail out miner Mechel

* Other bailout plans include RZhD Elga rail sale (Adds context, background)

Russia's VEB bank will not help bail out miner Mechel - Itar-Tass

MOSCOW, July 9 - The head of Russian state-owned development bank Vnesheconombank (VEB) said on Wednesday it had decided against taking part in a bailout of indebted miner Mechel, the country's largest producer of coking coal, Itar-Tass news agency reported.

UPDATE 1-Russia considers $5 bln rescue for coal producer Mechel

* Some scenarios assume partial dilution of current owners

Russian government, state banks in talks to restructure Mechel's debt- economy minister

STAVROPOL, Russia, June 19 - The Russian government is in talks with state banks on providing 180 billion roubles ($5.21 billion) as part of a restructuring package for indebted coal producer and steelmaker Mechel, Economy Minister Alexei Ulyukayev said on Thursday.

Cyprus court freezes Mechel's owner stake - report

MOSCOW, June 3 - A Cyprus court has frozen the assets of three offshore entities through which Mechel's main shareholder and chairman Igor Zyuzin owns a 67.4 percent stake in the indebted steelmaker and coalminer, Interfax news agency reported on Monday.

Russia mulls state buyout of miner Mechel's railway

MOSCOW, May 30 - The Russian state could help loss-making coalminer Mechel slash its over $8 billion in debt by providing monopoly Russian Railways (RZhD) with the funds to buy the rail link to the miner's key Elga project, Industry Minister Denis Manturov said.

Russia's Mechel says further sanctions could hit its U.S. coal business

* Warns of potential "material adverse effect" on whole business

UPDATE 1-Write-offs deepen Russian miner Mechel's net loss

MOSCOW, May 15 - Indebted Russian miner Mechel said its net loss deepened last year due to more than $2 billion of write-offs the company made as it tried to turn its business around.

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