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MECHEL COMPANY IS ON THE VERGE OF BANKRUPTCY

... Russia, the situation turned out to be more favorable for the company. In 2020, having entered into lucrative agreements with VTB and Gazprombank, the company restructured a significant part of its debt, extending the payment deadlines until March 2027 (with the option to extend it for another three years). This happened after the company closed contracts for the sale of the Elga coal deposit. By the summer of 2020, Mechel managed to deal with 88% of its debt obligations. Experts note that the bankruptcy of the Mechel holding in the current ...

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