Sberbank has extended a 60 bln roubles credit line for Mechel’s affiliate until 2020
Sberbank has extended 2 irrevocable credit lines for the total amount of 59.97 bln roubles until April 10th 2020 to the Chelyabinsk metallurgical plant.
The volume of the first credit line to the Chelyabinsk metallurgical plant is 27.49 bln roubles or 21.82% o the balance value of the company’s assets. The volume of the 2nd credit line is 32.48 bln roubles or 25.79% of the balance value of the assets.
The parties signed the respective agreement on April 29th, the conditions are not released.
The Chelyabinsk metallurgical plant is one of the largest domestic enterprises of full metallurgical cycle on the output of high-quality steel, the main producer of stainless steel in Russia. It is one of the few enterprises off the country that has its own index “Chelyabinsk steel”. It is in the structure of Mechel.
