Metinvest eurobonds holders approve restructuring of securities
The holders of the eurobonds of Metinvest B.V. (the Netherlands), the parent company of Metinvest international vertically integrated mining and metallurgical group, have approved the restructuring of securities with a total nominal value of $1.125 billion.
According to a group report on the website of the Irish Stock Exchange, the decision was made at a bondholders' meeting on January 27, 2016.
As reported, Metinvest B.V. at the end of December 2015 appealed to the holders of its eurobonds to endorse the introduction until May 27, 2016 of a moratorium on any payments on the securities.
The proposal concerns the owners of eurobonds for $85 million with maturity in 2016, those worth $289.734 million with a maturity term in 2017, and $750 million with maturity in 2018.
During the validity of the moratorium the company intends to achieve an agreement on the restructuring of these eurobonds, as well as pre-export financing in the amount of $1.089 billion.
