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Billionaire Zyuzin’s Mechel May Sell $1.1 Billion of Ruble Bonds

July 5 (Bloomberg) -- OAO Mechel, Russian billionaire Igor Zyuzin’s coal and steel producer, plans to sell as much as 35 billion rubles ($1.1 billion) of domestic bonds, said Alexander Tolkach, Mechel’s head of investor relations, by phone today.

Mechel is seeking funding to develop Siberia’s Elga deposit, Russia’s largest untapped reserve of coal used in making steel.

Link to Company News:{MTLR RU <Equity> CN <GO>}

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: Brad Cook at bcook7@bloomberg.net

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