(Adds details on the deal)
MOSCOW Dec 26 Russian metals and mining company
* Signed agreement with VTB extending the maturity
of credit lines worth 70.2 billion roubles ($1.15 billion) until
the first quarter of 2022.
* VTB has also agreed to extend the maturity of Mechel's
trade financing, with an outstanding balance of 45 million euros
($47 million), until April 2022.
* The deal completes Mechel's debt restructuring process
with Russian state banks.
* "The signing of these agreements with VTB Bank means that
similar conditions on debt repayment to those we made with
Gazprombank and Sberbank will now come into force,"
Mechel Chief Executive Oleg Korzhov said in a statement.
* "We can say that the extensive restructuring process with
Russian state banks, which hold 67 percent of Mechel's debt, is
* Mechel also hopes the deal will speed up its talks on debt
restructuring with its international lenders.
Further company coverage:
($1 = 60.8663 roubles)
($1 = 0.9565 euros)
(Reporting by Moscow Newsroom; editing by David Clarke)