Russia’s state-owned Vnesheconombank (VEB) plans to approve restructuring of a $167 million metals and mining group Mechel’s debt until the end of this month, CEO Sergei Gorkov said on July 10.
“We believe that it (restructuring) will be probably approved by the end of the month,” he said.
The company said earlier it had agreed on the principal terms of restructuring with VEB.
Mechel said in December 2016 that it had restructured liabilities with the three key creditors, VTB, Gazprombank and Sberbank, which accounted for 67% of total debt. (Prime/Ukrainian metal)