Bloomberg reported that the shareholders of OAO Mechel Romanian units approved a plan to borrow EUR 53 million from Erste AG Banca Commercial Romana SA and USD 30 million from Bancpost SA.

According to the statement Mechel Targoviste and other Romanian units Ductil Still SA, Laminorul SA and Mechel Campia Turzii SA will use the money to repay existing debt and fund future operations in the country. Mechel is a Russian coal and steel producer.

(Sourced from Bloomberg)