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BRIEF-Russia's Mechel says Vnesheconombank agrees to restructure $190 mln loan
September 28, 2017 / 3:24 PM / 3 months ago

BRIEF-Russia's Mechel says Vnesheconombank agrees to restructure $190 mln loan

Sept 28 (Reuters) - Russia’s coal and steel producer Mechel says:

* Vnesheconombank (VEB) has agreed to restructure a loan for up to $190 mln for Elgaugol, a part of Mechel’s mining division;

* The deal will extend the debt’s maturity until the second quarter of 2022;

* “By signing this agreement with Vnesheconombank, Mechel Group has completed the process of restructuring its debt with Russian banks,” Oleg Korzhov, Mechel chief executive, said in a statement;

* “The development of the Elga deposit is our key investment project which we will continue to work on together with Gazprombank, and our agreement with Vnesheconombank is an important step that enables us to move forward,” he added. Source text for Eikon: Further company coverage: (Reporting by Moscow Newsroom)

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