Mechel OAO MTL raised the US$2bln pre-export facility.
The new facility is split between the borrowers in mining, steel and ferroalloy divisions of Mechel Group and is drawn in two tranches, a 3-year and a 5-year one. Repayment will be done by monthly installments after 9 and 15 months grace periods respectively. The Facility is structured as a secured dual tranche pre-export facility.
The proceeds raised under the new US$2bln facility have been used for refinancing Mechel Group's remaining debt obligations under the two syndicated pre-export facilities. Those facilities were already in the repayment phase with final maturity in December 2012.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in