Gazprombank restructured Mechel's debt

Conditions of the amicable agreement between Gazprombank and Mechel Mining and Metallurgical Company provide for debt repayment within two years on terms comfortable for the parties, conversion of debt into rubles and forgiveness of part of the total debt. This will allow Mechel to significantly reduce its debt load and reduce unsettled loan obligations in its loan portfolio from 15% to 3%.