Mechel asks banks for more loan leeway

Indebted Russian mining and metals firm Mechel is hammering out new covenant holidays for its holding group and its mining subsidiary.

  • By Michael Turner
  • 09 Oct 2013

Mechel and Mechel Mining have simultaneously approached their banking groups for a covenant holiday for this year and the first half of next year. 

Under the planned changes, the firms will also reset their covenants at the end of next year.

This is the second time in seven months that ...

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