MECHEL REACHES AGREEMENT TO RESTRUCTURE 1 BILLION DOLLARS OUT OF 1.5 BILLION DOLLARS LOAN

摘要

Mechel coal and steel group has reached agreement with banks to restructure 1 billion dollars out of a 1.5-billion dollars bridge loan the company raised to finance the purchase of Oriel Resources Ltd. (UK), a source familiar with progress in the talks told Interfax. "The agreement hasn't been signed yet," the source said, adding "the terms may change." Mechel will repay the remaining 500 million dollars with a three-year loan from Gazprombank.