Metinvest international vertically integrated mining and steel group has postponed the deadline for closing the deal on restructuring the eurobonds of Metinvest B.V. parent company (the Netherlands) from November 30, 2016 until December 31, 2016.

According to a report by the issuer on the website of the Irish Stock Exchange, the company is holding final negotiations for signing an agreement on debt restructuring. It is expected that the deal, which will start the restructuring process, will be officially announced before November 30, and then some more time will be required to close the deal. For this purpose the deadline of the deal closure will be considered on December 31, 2016.

As reported, Metinvest in late December 2015 addressed to eurobonds holders with the request to approve the introduction until May 27, 2016 of a moratorium on payments on securities, during which it planned to reach an agreement on their restructuring, as well as restructuring pre-export financing.

The agreement concerns eurobonds with the maturity terms of up to 2016, 2017 and 2018, as well as pre-export financing worth $1.07 billion.