Ukraine's Metinvest repays $428 mln 2026 eurobonds in due time, in full amount
Metinvest B.V. (the Netherlands), the parent company of the Metinvest mining and metallurgical group, has redeemed the outstanding principal amount of its Senior Notes due April 23, 2026 with an 8.5% annual coupon, in full and on schedule.
"Metinvest B.V. has successfully completed the repayment of its 2026 Senior Notes, marking yet another milestone during the ongoing war. The redemption was funded through Metinvest’s internal cash flows, including working capital adjustments," Metinvest CEO Yuriy Ryzhenkov said in a statement on the company’s website on Thursday.
The CEO said that to date, Metinvest’s cumulative payments under these instruments now exceed $1 billion.
"Looking ahead, Metinvest remains committed to pursuing opportunities in the debt capital markets as conditions improve. This redemption reflects that commitment, as well as the group’s disciplined financial management and enduring focus on its stakeholders," Ryzhenkov said.
According to the report, Metinvest reduced its total debt by 15% in 2025, from $1.705 billion to $1.441 billion, and is scheduled to pay $470 million on it in 2026, of which $428 million is for the 2026 eurobonds (the payment amount is provided without accrued interest, fees, commissions and discounts, revolving trade finance, and lease obligations).
In 2027, Metinvest is due to pay $351 million, including $332 million on 2027 bonds with a 7.65% annual coupon; in 2028 – $18 million; and in 2029 – $550 million, including $500 million on 2029 eurobonds with a 7.75% annual coupon.
In the debt structure at the end of last year, eurobonds accounted for 88%, capital investment financing for 5%, trade finance for 2%, and other items for 5%.
In 2025, Metinvest decreased revenue by 6% compared to the previous year to $7.242 billion, EBITDA by 24.2% to $765 million, and net loss sixfold to $191 million. At the same time, the company saw an operating profit of $319 million and a pre-tax profit of $77 million, compared to an operating loss of $858 million and a pre-tax loss of $1.138 billion a year earlier.
Metinvest is a vertically integrated group of mining and metallurgical enterprises. Its facilities are located in Ukraine – in Donetsk, Luhansk, Zaporizhia, and Dnipropetrovsk regions, as well as in European Union countries, the United Kingdom, and the United States. The main shareholders of the holding are SCM Group (71.24%) and Smart-Holding (23.76%). Metinvest Holding LLC is the management company of the Metinvest group.
