Sberbank is thinking about debt restructuring of “Mechel” till 2020

Moscow. December 24. Sberbank is considering the possibility of postponement of payment of debt “Mechel” before 2020, said on Thursday the newspaper “Vedomosti” referring to several sources.

According to the publication, for a start, Mechel has to pay to Sberbank RUR 31.5 billion of principal and 3.3 billion rubles of penalties and fines, then the company Igor Zyuzin will begin operating conditions of the restructuring for the remainder of the debt (59.8 billion rubles at the current exchange rate). They provide that the company will be able to redeem in next year 5 billion rubles, in 2017 – 7 billion rubles, and after that the remaining part of the debt (47,8 billion rubles) will be paid until 2020, said one of the sources of the newspaper.

Second the interlocutor of the edition notes that according to the agreements reached 34,8 billion rubles will be credited on repayment of us dollar debt to Sberbank (beginning of year $677,98 million was denominated in USD and $583,2 million in rubles, the report said “Mechel” for 2014), the remaining amount will not be converted into rubles.

If Mechel to repay part of debt to Sberbank, the company will receive approval and rescheduling of payments of principal of the body with other major creditors – Gazprombank and VTB. But while Mechel has not fulfilled its obligations, said one of the interlocutors “Vedomosti”.

Sberbank has long been the only state Bank is the creditor, not soglasivshisj for restructuring of debts of “Mechel”. To date, the company has agreed with VTB and Gazprombank, to restructure the debts.

As of 10 December, the total debt of “Mechel” is $6,178 billion, of which 66% came from the state banks. In September it decreased by 4.3%.