Mechel gets lender OK to defer paying RUB 2.1 billion loan till 2016

By Susanna Moon

Chicago, Dec. 18 – Mechel OAO said its lender agreed to postpone payments on its RUB 2.1 billion loan due in 2014 to 2015 until the second quarter of 2016.

The company signed an agreement on restructuring credit lines with Eurasian Development Bank.

Mechel’s subsidiary Yakutugol Holding Co. OAO signed an agreement with Eurasian Development Bank on revising the payment schedule, according to a company notice.

The loan’s security pledge and interest rate remain unchanged.

Mechel is a Moscow-based mining and metals company.

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