UPDATE2: Russia’s Sberbank, Mechel unit settle $669 mln, 3.3 bln rbl debts

(Provides new sum in headline, lede)

MOSCOW, Dec 21 (PRIME) -- The Moscow Arbitration Court on Monday authorized peaceful settlement of a U.S. $273 million and 1.7 billion ruble debt, a $172 million and 1.6 billion ruble debt, and a $224 million debt of Southern Kuzbass Coal Company, unit of metals producer Mechel, to Russia’s Sberbank.

Sberbank raised the sum of penalty in change for the settlement of the $273 million and 1.7 billion ruble debt. The new claim amount was not disclosed.

A representative of Sberbank said that the final agreement on Mechel’s debt restructuring has not been signed yet. “The amicable agreements are the first stage in a complex process of Mechel’s debt restructuring but completion of a range of more requirements is necessary for its completion.”

A Mechel representative said that other affiliates of the company can soon sign restructuring agreements with Sberbank as well.

(71.3215 rubles – U.S. $1)

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