Mechel in talks to waive debt covenants
Russian steel and coking coal producer Mechel said it expects to breach certain lending deals and was in talks with banks to waive debt covenants after prices for its products declined last year.
Russian miner Mechel, which tapped the loan market twice this year, has issued a waiver request on its $1.5 billion facility signed in May that backed its acquisition of Oriel Resources in the US.