Reuters logo
Russian bank VTB says "not afraid" to invest in Mechel
October 1, 2014 / 7:33 AM / 3 years ago

Russian bank VTB says "not afraid" to invest in Mechel

MOSCOW, Oct 1 (Reuters) - Andrei Kostin, the head of VTB Bank, one of Russia’s largest, said on Wednesday the lender was “not afraid” of investing into debt-laden coal and steel producer Mechel.

He also said he was sure that Russian banks would find the necessary funds to service Mechel’s $1 billion borrowed from a syndicate of Western banks.

Mechel’s shares were up 15 percent in early trade after the comments. (Reporting by Svetlana Burmistrova; writing by Vladimir Soldatkin, editing by Elizabeth Piper)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below