Mechel, one of the leading Russian mining and metals companies, has announced that it has signed a long-term framework agreement with Sberbank of Russia for provision of a credit line to Mechel Trading AG.
Accordingly, Sberbank of Russia will provide a framework credit line totaling $130 million for a period of three years for Mechel Trading AG. Mechel's CFO Stanislav Ploschenko stated that the funding will be used "to finance Mechel Trading AG's current operations, including pre-export financing."