May 31, 2016 |
|Mechel ordinary shares surged by 8.5% at the opening of Tuesday trade on the Moscow Exchange to 68.05 rubles following the approval of the company’s debt restructuring plan by minority shareholders.|
On Monday the extraordinary meeting of Mechel shareholders approved the restructuring plan of the principal debt of $5.1 bln to Gazprombank, Sberbank, VTB and a syndicate of foreign banks.
Chairman of Mechel Board of Directors Igor Zyuzin and his family control 55.04% of the company.
The company’s total debt equals $6.2 bln, including $5.1 bln or 80% of the total debt to main lenders - Sberbank, Gazprombank, and VTB, and a syndicate of foreign banks.
Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, production high conversion, thermal and electrical energy. The company employs about 67,000 people. -
Issue: Mechel, 17
|Status||Country of risk||Maturity (option)||Amount||Issue ratings (M/S&P/F)|
|Full company name||Mechel PAO|
|Country of risk||Russia|
|Country of registration||Russia|