Mechel Extends VTB Credit at Near Double Rate, Vedomosti Says

OAO Mechel has extended a 13 billion ruble ($410 million) credit line with VTB to mid-2013 from this year after agreeing to pay nearly twice the interest rate, Vedomosti said, citing a financial statement.

The rate will increase to 11.88 percent from 6.5 percent, the Moscow-based newspaper reported, citing, the statement.

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