Mechel takes EUR 30 mln from BCR to fuel working capital

Lenders Erste Group and its Romanian subsidiary BCR have granted a EUR 30 million multi-borrower loan to Mechel Group in Romania, the banks have announced. Mechel Campiza Turzii, Mechel Targoviste and Ductil Steel will benefit from the loan. This was a working capital financing, which will cover the refinancing of a previous EUR 15 million loan and a new EUR 15 million lending line. Russian Mechel, which works in the mining, steel, ferroalloy and power business segments, employs 7,000 in Romania in five companies. BCR was represented by Diana Hudymač, head of the corporate clients division with the bank. Mechel's head of Eastern European metallurgic operations is Victor Dyshlevich.