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| Name | Symbol | Market | Type |
|---|---|---|---|
| Mechel PAO | NYSE:MTL | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 2.25 | 0 | 01:00:00 |
From May 2019 to May 2024
MOSCOW--Russian steel and coal producer OAO Mechel (MTL) has restructured some of its debt with Russia's biggest lender, OAO Sberbank (SBER.RS), the bank's chief executive said Thursday, Russian news agencies reported.
The Sberbank chief, German Gref, said a normal process of debt restructuring was taking place, without specifying what debt was under discussion, Interfax and Prime news agencies reported.
His comments come after a more than 40% drop in Mechel's share price late Wednesday. The shares partially recovered Thursday.
Mr. Gref said he doesn't understand why the stock price plunged Wednesday and nothing out of the ordinary is happening at Mechel that the bank is aware of.
Mechel said Wednesday that talks with a number of banks over a covenant vacation are continuing and should be completed by the end of November. The covenant reprieve would give the company more room to work out debt refinancing terms without fear of repercussions from lenders.
Agency website: www.interfax.ru, www.1prime.ru
Write to Moscow Bureau at djnews.moscow@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
1 Year Mechel PAO Chart |
1 Month Mechel PAO Chart |
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