News: Mechel OAO (MTL)
22 Jul 2014
Thu, Jul 10 2014
* Sberbank, VTB, Gazprombank are the main Mechel creditors
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.
* Other bailout plans include RZhD Elga rail sale (Adds context, background)
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.
* Some scenarios assume partial dilution of current owners
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.
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.
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.
* Warns of potential "material adverse effect" on whole business
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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- Mechel Reports Shipping Rail Batch for Russian Railways Certification
- Mechel Reports Reorganizing the Company
- Mechel Reports Signing Deals With VTB on Refinancing Part of Mechel's Debt
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- Mechel Reports Consolidation of Group's Shipping Within Mecheltrans OOO
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- Mechel Reports Visit of Russia's Minister for Development of Far East to Mechel Facilities in Far East Federal Region
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