The subsidiaries include ChMK (Chelyabinsk) and Yuzhnyy Kuzbass, an Interfax’ source informs.
As earlier reported, Mechel restructured its $2.6 bn debt attracted to buy coal assets in Yakutia and Oriel Resources Ltd. As part of the restructuring, the company encumbered 35 per cent of Yuzhnyy Kuzbass stock, some Yakutugol’, ChMK and Oriel shares. Twenty-five more per cent of Yuzhnyy Kuzbass and Yakutugol’ are encumbered with $1 bn Gazprombank credit.
Mechel’s own stock has been partially encumbered, too. Almost one third of it is pawned with Raiffeisen Zentralbank Osterreich AG, 10 per cent—with Vneshtorgbank, 0.66 per cent—with Uralsib