Mechel settles loan deferment with Alfa-bank

“Mechel” has agreed on a 5-weeks deferral of repayment at $150 million, a spokesman for “Mechel” said.

They officially confirmed the information in Alfa-bank.

There appeared information a week ago that the bank wanted Mechel to cancel the credit at $150 million before schedule. At that time they said in Mechel that they had money to redeem the debt.

Under the agreement, the company is to pay loan in June-July 2014, but the covenants were violated as far back as in autumn last year, a companion of RBK said. The debt was announced to be redeemed 2 weeks ago and Mechel was to pay the debt the next day, a spokesperson, familiar with the situation said. The problem was discussed at the meeting with the Minister of Finance A.Siluanov.  Alfa-bank has agreed to postpone the payment for another 5 weeks.

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