Metinvest not planning restructuring of 2015 eurobonds, holding talks on postponement of payment for 2018
The largest private mining and metal company in Ukraine – Metinvest – plans to fulfill its liabilities on 2015 eurobonds worth $500 million and not to restructure them, Metinvest Director General Yuriy Ryzhenkov said at a press conference in Kyiv on Wednesday.
"Today we see that we could pay back eurobonds from own financial flows in May 2015. We're mulling the possibility of entering the foreign capital markets: everything depends on the situation. The restructuring is the last resort. Today it is not discussed. The refinancing or the payment on our liabilities is considered," he said.
Ryzhenkov added that the negotiations with the holders of eurobonds on the postponement of their payment for 2018 are being held. This is not the restructuring, he said.
Metinvest is a vertically integrated steel and mining group of companies, managing every link of the value chain, from mining and processing iron ore and coal to making and selling semi-finished and finished steel products.
The major shareholder of Metinvest Group is Metinvest B.V., a holding company owned by System Capital Management Group (71.24%) and Smart-Holding (23.76%).
