The 5-year non-revolving credit line would be opened to re-finance the debt incurred with other commercial banks. The rate is based on MosPrime 3m on the quote day, ChMK paying also a one-per-cent premium for the opening of the credit line.
ChMK’s immovable and movable assets as well as 25 per cent and a share of Mechel’s Beloretsk Metallurgy Complex would be pledged as collateral.
Mechel consolidates producers of coal, iron-ore concentrate, steel, rolled metal, ferroalloys, high-added value products, thermal and electric energy. In 2009, Mechel produced 5.5 m t of steel (–7 per cent against 2008), 17.8 m t of coal (–32.6 per cent), including 10.2 m t (–32.3 per cent) of coking and 7.6 m t (–33 per cent) of steam coal).