Mechel Extends VTB Credit at Near Double Rate, Vedomosti Says
OAO Mechel (MTLR) 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.
To contact the reporter on this story: Stephen Bierman in Moscow at firstname.lastname@example.org
To contact the editor responsible for this story: Will Kennedy at email@example.com