Mechel Signs $210M Loan to Finance Construction of Second Line at Sibirginskaya Mine

Mechel OAO MTL announces it has signed a loan agreement to finance construction of the second line at the Sibirginskaya mine. According to the terms of the agreement, Transcreditbank OAO grants Southern Kuzbass Coal Company OAO a loan of 6.189 billion rubles (approximately 210.4 million dollars*). The funds must be disbursed by December 31, 2012, and will be repaid in equal monthly installments, beginning in February 2014 and through December 2015.