UPDATE: VTB says buys about 50 bln rbl of Mechel debt from Sberbank - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

UPDATE: VTB says buys about 50 bln rbl of Mechel debt from Sberbank

(Adds comment in last paragraph)

MOSCOW, Nov 7 (PRIME) -- RussiaТs second biggest lender VTB has bought almost 50 billion rubles of the debt of metals producer Mechel from Sberbank to become the largest creditor of the group, the bank said in a statement on Thursday.

УGroup VTB has purchased the debt of the group Mechel from Sberbank totaling a little less than 50 billion rubles, which, jointly with the current exposure, has made VTB the largest creditor of the group,Ф the bank said.

MechelТs net debt amounted to 423 billion rubles in 2018. In June 2019, Mechel offered its key creditors, Sberbank, VTB and Gazprombank, to revise its terms and the banks are studying the proposal.

MechelsТ common shares grew 4.02% to 62.93 rubles as of 10:28 a.m., Moscow time on the Moscow exchange on the news. The preferred shares rose 2.25% to 90.8 rubles.

VBT First Deputy CEO Dmitry Olyunin said the bank expects the deal to influence the reserves positively. УThis (the purchase of MechelТs debt) will not influence negatively the results of the bank, the opposite is true: we expect a positive effect from the point of view of general reserving after several transactions of asset exchange between us and the other creditors.Ф

(63.5880 rubles Ц U.S. $1)

End

07.11.2019 12:59
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 70.4271 -0.0287 13 dec
USD 63.2257 -0.3396 13 dec
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1507.82 +0.73 10:55 13 dec
micex 2993.04 +0.34 10:55 13 dec
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 251.60 +0.45 10:33 13 dec
lkoh 6177.50 +0.68 10:33 13 dec
rosn 456.05 +0.72 10:33 13 dec
sber 241.58 +0.22 10:33 13 dec
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 69.7800 -0.5250 10:34 13 dec
USDTD 62.5175 -0.4025 10:35 13 dec