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Mechel fixes coupon 8 rate on bond issue 16

On August 5, Mechel OAO set the rate of coupon 8 on its bond issue 16 in the amount of RUB 5 billion equal to 13% p.a, the company informed.

The company will pay RUB 64.62 per bond.
Besides, the company announced a bond buy-back offer valid from August 15 till August 19.

The issue was placed on the MICEX by public offering on February 22, 2011. It consists of 5 million securities with a face value of RUB 1,000 and was assigned state registration number 4-16-55005-E as of August 10, 2010. Coupons 1-6 are 8.25% p.a., coupons 7-8 are 13% p.a., with coupons 9-20 to be determined by the issuer.

The issue was arranged by JSC Coalmetbank, Sviaz-Bank, Alfa Bank, VTB and Sberbank of Russia. The placing price is RUB 1,000 per bond. The maturity period is 10 years.

Mechel (tax number: 7703370008) is one of the leading Russian companies. The company's profile covers 4 business segments: mining, metallurgical, ferroalloy industry and power engineering. The company unites manufacturers of coal, iron-ore concentrate, nickel, steel, rolled products, high-added value products, thermal and electric energy. Mechel's goods are sold in Russia and worldwide.

According to the DataCapital information retrieval system, US GAAP net loss of Mechel OAO for 2013 increased by 75.86% to $2.928 billion from $1.665 billion the year before. Revenue from sales to external consumers dropped by 19.33% to $8.576 billion from $10.631 billion, operating loss grew by 25.06% to $529 million from $423 million, adjusted EBITDA decreased 2.02-fold to $730 million c $1.471 billion, EBITDA margin was 8.51% against 13.84% the year before.

According to the DataCapital information retrieval system, RAS net loss of Mechel for H1 2014 decreased by 19.96% to RUB 5.096 billion. Revenue increased by 59.78% to RUB 3.993 billion from RUB 2.499 billion, sales profit by 17.13% to RUB 2.291 billion from RUB 1.956 billion, loss before tax decreased by 21.37% to RUB 5.091 billion from RUB 6.475 billion.

"AK&M", 07.08.2014


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