Gazprombank offers Mechel to conduct additional issue for 24.3 billion rubles

The Vedomosti has managed to find out details of the plan of the restructuring and refinancing of Mechel’s debt, which the company and Gazprombank (it owes the bank 26.8 billion rubles and $1.4 billion) proposed to the two other major lenders – Sberbank and VTB. Mechel owes to Sberbank 61.8 billion rubles and 29 million euro, and VTB - 53.7 billion rubles plus $100 million. The conditions, under which the bulk of the company's debt will be refinanced, and foreign currency debt will be converted to the ruble, were provided to the banks in the format of presentation, two sources in creditor banks reported.