Russia Mechel says signs $2.6 bln of refinancing deals

Mon Jul 13, 2009 6:36am BST
 
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MOSCOW, July 13 (Reuters) - Russian steel and coking coal producer Mechel (MTL.N) said on Monday it has signed agreements to refinance $2.6 billion of short-term debt.

It refinanced $1.6 billion of a $2 billion facility used to acquire the Yakutugol coal mine after already paying of the remainder.

Mechel, controlled by billionaire Igor Zyzin, also refinanced $1 billion of a $1.5 billion loan used to acquire chrome miner Oriel Resources.

It repaid the rest of the amount by tapping a Gazprombank loan. (Reporting by Alfred Kueppers, editing by Toni Vorobyova)

 

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