Sberbank and “Mechel” have not yet agreed on the debt

Sberbank and “Mechel” have not yet agreed on the debt


Sberbank and “Mechel” has not yet reached an agreement on restructuring the company’s debt, however, the parties have developed approaches to addressing this issue, said the head of Sberbank German Gref.

MOSCOW, Nov 17. Sberbank and “Mechel” have not yet agreed on debt restructuring of the company, told reporters the head of Sberbank German Gref.

“We do not agree (with “a Mechel” — ed) mean that we have no agreement. We have approaches to this — and we proposed to recover from “Mechel” all of our debt. It is a question of “Mechel” and the organizer, in this case, the main creditor — Gazprombank. I really hope that they will soon complete all their procedures for negotiation acceptance of our terms. If such agreement is not, then we will continue to do what we do today,” said Gref.

Sberbank is the third largest creditors of “Mechel”. It, unlike Gazprombank and VTB, are not satisfied with the proposal of “Mechel” on restructuring. The Bank and the company continue talks, while being in the process of litigation. In particular, in October the Moscow arbitration has accepted to manufacture the claim of four large coal savings Bank to a subsidiary of Mechel — company “southern Kuzbass” — for a total of over 720 million and about 3.3 billion rubles.

Total debt of “Mechel”, according to the company, as of 1 September 2015 was $ 6,313 billion.