"Mechel" preparing to restructure bonds.

The company is preparing to restructure bonds.

Igor Zyuzin’s "Mechel", which allowed a cross-default on bank loans, intends to prevent at least a default on the bonds. As "the Kommersant" informs, the company is looking for a consultant for the restructuring of two issues of bonds for 6 billion roubles with an offer in September. Market participants believe that the company has to offer bondholders a coupon at least 15% per annum, but it is unclear whether "Mechel" can serve such a debt.

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