Mechel succeeded in protracting the grace period until the end of 2014 while obtaining a respite for a syndicated loan of $1bn until the end of 2016.
The agreement was signed by the international group of banks including ING Bank N.V., Societe Generale, UniÑredit, Commerzbank Aktiengesellschaft, Raiffeisen Bank International AG, VTB, Caterpillar Financial Services Ñorporation, ICBC (London) plc.