Mechel Announces Obtaining 500-Million-Dollar Credit

Mechel OAO

announces the signing of long-term loan facilities with Gazprombank on providing credit lines to Yakutugol Holding Company OAO and Southern Kuzbass Coal Company OAO in the aggregate amount of 500 million US dollars. Gazprombank provided Mechel Mining OAO's enterprises with credit lines totaling 500 million US dollars. The new loan facilities include a five-year tenor with a three-year grace period.