Alfa-Bank requires advanced credit repayment from “Mechel”

The Minister of Finance A.Siluanov held a meeting, dedicated to thea support of Mechel. A spokesman for “Alfa-Bank” required the redemption of their  loan of $150 million by March 15th.

The parties have agreed on a delay of payment for a week. According to the interim report of the company for H1, 2013, Mechel is to pay off the debt in June-July 2014. However, the bank does not want to wait until the expiration of the term. 65% of the assets of the Beloretsk Iron-and-Steel works (Bashkiria) and 25% shares of Posyet (Primorsky Krai) act as the debt security. A spokesman for “Alfa-Bank” said that the Bank has right to demand the advanced repayment of credit.

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