VTB says buys about 50 bln rbl of Mechel debt from Sberbank - Metals & Mining - 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

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

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.

(63.5880 rubles Ц U.S. $1)

End

07.11.2019 10:42
 
 
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