The High Court of Justice of England and Wales has approved the prolongation of a temporary moratorium to pay on $1.176 billion (after capitalization of interest on May 27, 2016) bonds of Metinvest B.V. (the Netherlands), the parent company of Metinvest international vertically integrated mining and steel group, until September 30, 2016.

Metinvest said in a report on the Irish Stock Exchange (ISE), the court made the decision on June 30, 2016.

The moratorium can be extended until November 30, 2016. During the moratorium, Metinvest plans to complete the restructuring of eurobonds, as well as pre-export financing of $1.07 billion.