Metinvest predicts further positive negotiations with eurobond holders – director

The largest Ukrainian private mining and metal company Metinvest after the successful restructuring of payment on eurobonds at the first phase expects that the mutually beneficial agreement with the bond holders and banks would be received in the future.

Metinvest CEO Yuriy Ryzhenkov said at the press tour to mining plants of the group in Kryvy Rih on Wednesday that the company had problems with paying on eurobonds and credits due to events in eastern Ukraine.

"These events did not allow the company to operate normally, they did not allow the company to load its enterprises. This was also linked to the negative economic situation in Ukraine in general due to events in southeast of the country, and the credit market was closed for it. It was impossible to refinance debts in the general mode, and we asked our creditors to postpone the repayment of these debts," the top manager said.

He said that the company agreed to postpone the payments until January 31, 2016.

He said that the group is holding talks with the bond holders.

"I think in the period that we decided on with the creditors we would find the solution," he said.

He said that the company is always ready to hold an IPO if the situation on the markets is favorable.

"We're the public company and would remain it, and we're always ready to hold the IPO with the favorable situation on the markets," he said.