Mechel Targoviste (COS) has secured a 6,67 million USD loan from Mechel International Holdings AG and a 2,94 million USD loan from Mechel Trading AG, according to a report to the Bucharest Stock Exchange.
The contract with Mechel International Holdings AG is divided into 4,08 million USD for the payment of electricity arrears, 2 million USD for additional current assets and 589.000 USD for the payment of the deffered debt to Distrigaz. The 2,94 million USD borrowed from Mechel Trading AG will be used to finance the current activities of Mechel Targoviste. On February 28th 2007, Mechel Targoviste owed 13,3 million USD and 6,36 million EUR to Mechel International Holdings AG.