Mechel R130 billion restructuring of Gazprombank debt

30/5/2016
Financial restructuring

R 130 billion

$ 2.185 billion

Completed

30/5/2016


Overview:

  • Mechel completed negotiations with Gazprombank to restructure its R130 billion of debt as part of its wider debt restructuring programme.
  • Gazprombank is the most significant creditor of Mechel, holding around 28% of the Russian metals and mining company's outstanding debt.
  • The negotiations saw the amendment of 14 existing facility agreements and associated security documents, debt transfer, grant of new security and amendment of corporate documents.
  • It was based on new Russian law concepts introduced as part of the country's update of its Civil Code.

Jon Moore - Journalist

Jurisdiction:

Russia

Deal type:

Financial restructuring

Practice areas:

Banking
Restructuring and insolvency

Governing law:

Russia

Industry sector:

Mining


Firms:

Party: Gazprombank (Lender)


Party: Gazprombank (Lender)