USD 87.7427

0

EUR 95.7588

0

Brent 85.27

0

Natural gas 2.313

0

1192

Mechel completed the restructuring of its $1 billion syndicated pre-export loan

Mechel reports refinancing its $1-billion syndicated pre-export facility with a pool of international lenders.

Mechel completed the restructuring of its $1 billion syndicated pre-export loan


Moscow, January 23 - Neftegaz.RU. Mechel, a leading Russian mining and metals company, reports refinancing its $1 billion syndicated pre-export facility with a pool of international lenders.

 

The restructuring became possible by a credit line in euro granted by VTB Bank with maturity in April 2022. The grace period on the body of the debt is set until April 2020.

 

Debt buyback from lenders yielded Mechel financial revenue totaling about 13 billion rubles.

 

«Refinancing the syndicated loan enabled us to reduce the share of the Group’s unrestructured debt from 22% to 8%, decrease the number of foreign lenders in our overall debt portfolio, synchronize the loan’s conditions and debt repayment schedule with current conditions of our loans lent by Russian banks, as well as reduce borrowing costs,» Mechel PAO’s Chief Financial Officer Nelli Galeeva noted.

 


Follow us on Google News
Advertising at neftegaz.ru

Subscribe to our newsletter

of the best materials Neftegaz.RU

* Incorrect E-Mail Address

By clicking the "Subscribe" button I accept the "Agreement on the processing of personal data"


Advertising at neftegaz.ru