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White & Case Advises VTB Bank on USD 1.7 Billion Restructuring of Mechel PAO

White & Case Advises VTB Bank on USD 1.7 Billion Restructuring of Mechel PAO

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White & Case has advised VTB Bank on the USD 1.7 billion restructuring of Russian mining and metal company Mechel PAO and on various matters connected to the related sale of the Elga Coal Complex, one of Mechel's main assets.

Mechel has signed agreements with its lenders, prolonging the debt maturity of its credit lines by seven years with an option for an additional three-year extension. After Mechel repays part of its debt with proceeds received from that sale, the overall restructured debt to Mechel's two major state-controlled lenders – VTB Bank and Gazprombank – will be a total of RUB 237 billion.

The White & Case team was led by Moscow-based Partner Natalia Nikitina, working with Partner Ekaterina Logvinova, Counsels Pavel Boulatov and Adam Smith, and Associates Rimma Izmaylova, Maria Kulmukhametova, and Oleg Todua. The firm's team also included, in Singapore, Partner Charles McConnell and Associate Berdine Geh, in Stockholm, Counsel Niklas Helmer and Associate Jacob Frank, and in Prague, Partner Tomas Jine.

White & Case did not reply to our inquiry on the matter.

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Founded in 1993, Egorov Puginsky Afanasiev & Partners is the leading full-service law firm in the CIS with offices in Russia, Ukraine and Belarus and associated offices in the UK, the USA and Cyprus.

We advise its clients in many areas of law, including: dispute resolution in Russia and abroad, corporate law, M&A, antitrust issues, project finance and PPP, restructurings and insolvencies, energy and natural resources, property management and privatization, environment, technical regulation and industrial safety, banking and finance, intellectual property, criminal law, real estate and construction, taxation, family and labour disputes, marine and transport law, and international trade and customs.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys that enables thus providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

All News about, and Legal Analysis by, Egorov Puginsky Afanasiev & Partners can be found here.

Firm's website: www.epam.ru


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