Bank VTB bought the rest of the debt of "Mechel" to Sberbank in the amount of about 50 billion rubles, told RBC a source close to the deal. The representative of VTB confirmed the fact of conversion of debt "Mechel", but the further comments has refused. Sberbank declined to comment on the deal.
At the end of June 2019 total debt of "Mechel", according to the company, amounted to 411 billion rubles, of which the three largest creditors — Gazprombank, VTB and Sberbank accounted for more than 80%. Following the transaction the company now Igor Zyuzin must VTB about 204.6 billion rubles, which corresponds to almost 50% of the total debt portfolio of the group. The second largest creditor of the company is Gazprombank (142,6 billion debt).
Ordinary shares of the mining and metallurgical company "Mechel" on the Moscow stock exchange rose in early trading more than 4% to 62.95 roubles per share.
PAT Mechel, founded in 2003, is one of the leading companies in the mining and metallurgical industries. The company has production facilities in 11 regions of Russia, Lithuania and Ukraine.
"Mechel" unites more than 20 industrial enterprises. Manufacturers of coal, iron ore, steel, rolled products, ferroalloys, heat and electric energy. All enterprises work in a single production chain, from raw materials to products with high added value. The holding also owns three trade ports, transport operators, distribution and service network. Mechel products are sold in domestic and foreign markets.
