MOSCOW, November 23 /PRNewswire/ --
Mechel OAO (NYSE: MTL), the Russia's leading mining and metals company, announces the Company redeemed all of its outstanding triennial certificated interest-bearing inconvertible bonds payable to bearers of series 01 bonds.
The series 01 bonds were issued in November, 2004. The number of the bonds placed was 2 million. Par value of one bond was 1,000 rub and the total amount of the bonds redeemed was 2 billion rub.
Currently, Mechel has the following two bonds on the stock market: Mechel Trade House bonds, placed in June, 2003 with six years bonded loan totaling 3 billion rub and placed in June, 2006 second issue bonds Mechel OAO with 5 billion rub total amount, which is included in first level quotation list << A >> on Moscow Interbank Currency Exchange (MICEX).
Mechel OAO Ilya Zhitomirsky Phone: +7-495-221-8888 ilya.zhitomirsky@mechel.com
Mechel is one of the leading Russian mining and metals companies. Mechel unites producers of coal, iron ore, nickel, steel, rolled products, and hardware. Mechel products are marketed domestically and internationally.
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the U.S. Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions.
