Metinvest mining and metal group has paid $11.25 million or 30% of coupon accrued and unpaid as of January 31, 2016 to holders of its eurobonds that will mature in 2016-2018, with whom the company plan to reach an agreement on bond restructuring.

The company said in a report on the Irish Stock Exchange, due to a lack of extra idle funds that could exceed $180 million in January 2016, the rest of the sum of accrued and unpaid coupon is capitalized.

This would increase the nominal value of the 2016 bonds issue by some $1.206 million, to $86.444 million, 2017 bonds – by $3.727 million, to $293.461 million and 2018 bonds – by $21.31 million, to $771.31 million.

The register of payments was closed on January 21.

As reported, Metinvest B.V. in late December 2015 addressed to the holders of its eurobonds with the request to approve the introduction until May 27, 2016 of a moratorium on the repayment of the securities.

Metinvest is a vertically integrated international mining and steel company which owns 24 assets in Ukraine, Europe and the United States, and also manages each link of the production chain – iron ore and coal mining and coke production through to semi-finished and finished steel production; including the manufacturing of plate and coil, pipe rolling, shapes and bars and other value-added products.