In the steel division, Beloretsk Metallurgical Plant signed a loan agreement for 1.7 billion rubles (some 54 million US dollars*) and Urals Stampings Plant signed another for 1.6 billion rubles (some 50 million US dollars*). For the steelmaker the credit lines can be used with the possibility of drawing down funds during a three-year period. The maximum period for each tranche is two years with repayment at the end of such period.
In the mining division, Yakutugol Holding Company signed a loan agreement for 490 million US dollars and Southern Kuzbass Coal Company for 400 million US dollars. For the mining enterprises, the credit lines with the possibility of drawing down funds can be used for a one-year period, with a five-year repayment period for each tranche. The loans have a three-year grace period and repayment in equal quarterly installments over the last two years.
“Gazprombank is an important strategic partner for Mechel, and this deal is yet another proof of our long-term and mutually profitable cooperation. I would like to specifically note that opening these credit lines will not increase our company’s leverage while significantly decreasing the pressure on our liquidity this year, and will enable us to improve the Group’s loan portfolio structure by increasing the period of repaying loans,” - Mechel OAO’s Chief Financial Officer Stanislav Ploschenko noted.
02 Февраля 2025 | воскресенье | 01:05
