Metinvest B.V. (the Netherlands), the parent company of Metinvest international vertically integrated steel and mining group of companies, announced it had completed the restructuring of its financial debt totaling $2.3 billion.

According to the group, as a result of the agreement achieved three issues of the group's eurobonds maturing in 2016, 2017 and 2018 were annulled, which also means the abolition of defaults and other liabilities on all the issues.

Instead of these issues new eurobonds worth $1.2 billion maturing in late 2021 and with new conditions were issued.

In addition, four contracts on syndicated pre-export financing credit lines were set out in a new wording, which foresees the abolition of defaults and other liabilities on these lines. The new version, among other things, provides for the unification of the four credit lines into one worth $1.1 billion maturing in mid-2021, according to a press release.