The situation with the shares of the swordsmen is normalized

On Friday, the Bank of Russia resumed from November 18, 2013 the use of bonds of OJSC Mechel as security in liquidity provision operations. The securities of the leading Russian mining and metallurgical company will be accepted as collateral obligations with a coefficient of 0.7.

From Monday for transactions of repo with bonds of OJSC Mechel, the initial value of the discount is set at 25 percent. For transactions of repo with ordinary and privileged shares of Mechel OJSC, the initial discount value is set at 45 percent.

On Friday, Mechel reported an agreement with a number of crediting banks on debt restructuring and delayed payments until 2015.

Recall that after the crushing fall of the quotes of the shares of Mechel on the Moscow Exchange on Wednesday by 50 percent, the Bank of Russia stopped taking swordsman papers in security on loans.

Currently, the special service of the Bank for Financial Markets (SBRFR) is investigating the incident and believes that the sharp drop in shares of Mechel OJSC could not occur only against the news background and does not exclude possible manipulations with the company's quotes.

In 2012, "Mechel" received a clean loss of 1 billion 660 million dollars due to the depreciation of assets. The revenue in 2012 amounted to 11 billion 300 million dollars, EBITDA - 1 billion 300 million dollars. As of March 31, 2013, the total debt of the company amounted to 9 billion 300 million dollars.

The Mechel group combines manufacturers of coal, iron ore concentrate, steel, rental, ferroalloys, high -red -alcohol products, thermal and electric energy. The main beneficiary of Mechel OJSC is the chairman of the board of directors of the group Igor Zyuzin, who owns 66.76 percent of the company's shares, the rest of the company's managers - less than 1 percent, is about 30 percent Free Float (ADR).