"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.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer