Press Room

Metalloinvest announces early repayment of Eurobonds-2020

24 September 2019

Metalloinvest (“the Company”), a leading global iron ore and HBI producer and supplier, and one of the regional producers of high-quality steel, today announces that it has elected to make early repayment of its Eurobonds-2020.

In order to optimise its loan portfolio, the Company has decided to redeem its outstanding Eurobonds of a principal amount of USD 270.6 mn. The bonds maturity date was scheduled for April 2020.

Alexey Voronov, Finance Director of Management Company Metalloinvest, commented:

“In line with the Company’s Debt Management Strategy, we decided to exercise a make-whole call pursuant to Eurobond-2020 and repay the outstanding Eurobonds prior to the scheduled maturity date in April 2020. Today, the noteholders were informed of the early repayment. The Eurobonds’ repayment will be financed by the new PXF-2019 loan signed with international and Russian banks last week.

“Following the “any and all” Eurobonds-2020 tender offer completed in April 2017, the outstanding Eurobonds’ nominal value was USD 332.7 mn, while the total issue size had been USD 1 bn. Additionally, in 2019, the Company completed a partial repayment of the Eurobonds-2020 in the principal amount of USD 62.1 mn. As a result, the current outstanding principal amount of the Eurobonds is USD 270.6 mn.”

Artem Lavrischev

Artem Lavrischev

Director of Investor Relations & Corporate Ratings Department
E-mail: ir@metalloinvest.com
Tel.: +7 (495) 981-55-55

For more information, please contact the Investor Relations Department:

 
Back

You are using an old version of Internet Explorer. This version does not support web technologies, which we are using in this resource. Pages and interactive tools will be displayed incorrectly. Please update your browser to a newer version or install another.