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Metinvest intends to continue servicing eurobonds – CEO
KYIV. Sept 16 (Interfax-Ukraine) – Metinvest mining and metallurgical holding is servicing its credit obligations, including eurobonds, and intends to continue doing so in the future, said CEO Yuriy Ryzhenkov.
"We have not declared force majeure on the debt. Unlike many Ukrainian issuers, we continue to service our entire loan portfolio, including planned payments on eurobonds. And I think that we should have enough strength to do this," he said is in an interview with NV.Business.
Ryzhenkov noted that last year Metinvest greatly reduced its loan portfolio.
As reported, Metinvest B.V. issued a number of eurobonds maturing in 2023 (the principal outstanding is $176.335 million, the coupon rate is 7.75%), in 2025 (EUR300 million, 5.625% respectively), in 2026 ($505.182 million, 8.5%), in 2027 ($333 million, 7.65%) and in 2029 ($500 million, 7.75%).
Metinvest B.V. and its subsidiaries are a vertically integrated mining and metals group of companies that manages assets in every link of the production chain from the extraction of iron ore, coal and coke production to the production of semi-finished and finished goods from steel, pipes and coils, as well as the production of other high value-added products. The group consists of mining and metallurgical enterprises located in Ukraine, the European Union, the UK and the USA, has a sales network covering all key global markets.
The main shareholders of Metinvest B.V. are SCM Group (71.24%) and Smart-Holding Group (23.76%), which jointly manage the company.
