Shareholders of the Romanian unit of Mechel have approved a plan to borrow $106 million in loans, Bloomberg reports. Erste’s Banca Comerciala Romana will provide $76 million. Bancpost will lend the remaining $30 million. Mechel Targoviste and other Romanian units Ductil Still, Laminorul and Mechel (MTL) Campia Turzii will utilize the proceeds to repay existing debt and finance future operations in the country.

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