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http://www.businessweek.com/news/2012-08-01/chelpipe-lenders-want-more-surety-for-debts-vedomosti-reports

Bloomberg News

ChelPipe Lenders Want More Surety for Debts, Vedomosti Reports

August 01, 2012

Chelyabinsk Pipe Works (CHEP)’s lenders want more guarantees from the plant’s owners in restructuring its debts worth of 113 billion rubles ($3.5 billion), Vedomosti said, citing four unidentified people familiar with the matter.

Creditors want to get personal guarantees from owners of the plant, a non-state producer of pipes for the oil and gas industry known as ChelPipe, besides the state guarantees they already have, the newspaper said. The lenders, which include 20 banks, require owners Andrey Komarov and Alexander Fedorov to put their shares up as security as well, Vedomosti said.

To contact the reporter on this story: Marina Sysoyeva in Moscow at msysoyeva@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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