Bloomberg News

Mechel Borrows $2 Billion for Yakut, Elga Coal Acquisitions

November 06, 2007

OAO Mechel (MTLR), a metals and coal producer owned by Russian billionaire Igor Zyuzin, said it began syndicating a $2 billion loan to refinance the $2.3 billion purchase of Yakut and Elga coal fields on Oct. 5.

ABN Amro, BNP Paribas, Calyon, Natixis, Sumitomo Mitsui Banking Corporation Europe Ltd., Commerzbank Aktiengesellschaft and Societe Generale are joint book running managers, the Moscow- based steelmaker said in an e-mailed statement today.

Mechel started syndication on Nov. 2.

To contact the reporter on this story: Maria Kolesnikova in Moscow at mkolesnikova@bloomberg.net.

To contact the editor responsible for this story: Stuart Wallace at swallace6@bloomberg.net.


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