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Mechel misses $2.1bn target but more on way

Struggling Russian coal producer Mechel failed to reach its $2.1bn target for a new three and five year pre-export finance loan, instead signing a facility of $2bn on Monday. The company is also in talks with banks for another loan of up to $900m for the company’s coal producing unit, Southern Kuzbass. The subsidiary received board approval for the facility.

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