Subsidiary of Russia’s Mechel inks guaranteed loan

Mechel Trading, the trading arm of Russian mining and steel credit Mechel, has signed a $180m three year loan guaranteed by Mechel and Chelyabinsk Metallurgical Plant and secured against some of the borrower’s offtake contracts.

  • 26 Oct 2011

Barclays Capital, ING, UniCredit and UniCredit Moscow provided the refinancing facility, which has a grace period of 18 months. The Swiss-based borrower said that the loan might be increased to $350m if other banks join the deal at a later date.

Mechel reported Ebitda of $1.17bn for the first ...

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