This was the 2nd offer MTL sent to Sberbank. Not good.
MECHEL, VTB AGREED ON PRINCIPLES OF DEBT RESTRUCTURING
MECHEL CLOSE TO SIGNING AGREEMENT W/ GAZPROMBANK ON DEBT
2014 EBITDA at $719m vs. 2014 Interest Expenses at $793m
4Q EBITDA at $220m vs. Interest Expenses at $222.5m
As of April 20, the Total Debt was $7b up 11% from January.
Today report makes it clear why banks are concerned about Mechel. Commodities Market weakness is off-setting most of the Benefits derived from the Ruble Devaluation.
MTL also offered Sberbank a stake in a subsidiary ... but the bank rejected it. MTL offered SBERBANK ownerhisp in a subsidiary not generating any net income. Seems that not much progress has been donw
Therefore VTB will continue to sue MTL ... next lawsuit to be filed tomorrow. ... ... as long as MTL has not repaid back the overdue Interests and penalties.
Во вторник, 28 апреля, ВТБ подаст в Московский арбитражный суд новый иск о принудительном взыскании с горно-металлургической компании «Мечел» задолженности по кредитному соглашению на сумму 2,66 млрд рублей. Об этом «Известиям» сообщил источник, близкий к группе ВТБ.
— ВТБ продолжит судиться с компанией. Одновременно банк ведет переговоры с «Мечелом», который начал гасить просроченные проценты, но пока всю сумму не оплатил, — отметил он.
ATHX is TOASTED
Treu, but rebar prices (steel) are not performing much better than coking coal:
YTD Rebar is down 12.56% ... up 9.50% from early March lows.
2014 Rebar prices lost 22.86%
There is little doubts in my mind that MTL will reach an agreement with lenders. Yet, This does not guarantee a successful future for the company. A 50%-80% move might result in the following months... but then everything will depend on:
- Commodities Prices
- Exchange Rates (RUBUSD)
All good news. Here some adverse developments:
1. Ruble getting stronger and RUB/USD flirting with the 50.00 level.
2. Collapsing Coking coal Price
2.1 For Example, FIS Coking Coal 1m contract lost 12.37% in April. It is down 24.32% YTD ... currently at 83.25 USD/Ton. Was at $140+ in 2013 and constantly above $110 in 2014. Relevant for China.
Positive News. Rio Tinto announcement regarding reduction in Iron Ore production expansion ... sending Iron or into a bull market (up 20% in a week ... even if still down significantly YTD).
CKCU5 Coking Coal Futures Contract for September 2015 gained 3.66% in the last 7 days on this news. Unfortunately it is still down 10% YTD.
On the one side, we have the positive effect of the weakening ruble (now unfortunately fading)... while on the other we still have a continuing slide in Commodities Prices.
Ur alias is more than 2 years hold. If u still need to make ur first million out of trading ... u r likely in the wrong industry
I guess .. they will inform Pumpers that Chugai IS NOT INTERESTED IN DEVELOPING MULTISTEM anymore
1. Apparently Piper Jaffray Analyst did Upgrade the Price Target on 04/20/2015 ... back to $4.
Price Target as of 04/16/15 was $4 and was lowered after the PhIIa results to $2 on 04/17/2015.
On 04/20/2015 the PT has been set back to 4$.
Remember that on that day, Jaffray had a Conference Call on ATHX:
ATHX: Piper Jaffray biotech analysts hold an analyst/industry co
What will the next catalyst be? and when will it be announced?
A 50% move up or down is likely.
Unfortunately your half full view of the trading activity is biased.
Who initiated the transaction is important, not the market maker that offer liquidity.
Geez ... You could have applied your very same logic on Enron. You had buyers there too.
FROM 1.29 TO 1.21 on a 100k shares order.
Volume in Russia is now about 10% of what it used to be 1-2 months ago.
Until ATHX issues a "relevant" PR ... Shares will trend lower in the coming days/weeks.
Then it depends.
1. If ATHX issues a PR stating they are moving forward with Chugai in Japan ... PPS will jump
2. If Chugai is not on board anymore ATHX PPS will drop 30% (if ATHX says it will develop Multistem for Ischamic Stroke on its own) or 60% (If ATHX says it discontinues the Multistem for Ischemic storke)
1. Discontinue Multistem for Ischamic Stroke
2. Continues Multistem development internally (since Chugai not interested to continue the Program)
3. Continue Multistem development together with Chugai in Japan.
1. and 2. will likely send the PPS down another 50% to $0.65
3. will likely result in a 20-30% spike. back to 2.00