Court of England endorses convening meeting of Metinvest eurobond holders for bond restructuring

18:25, 13.01.2016 1 min read

The High Court of Justice of England and Wales has allowed Metinvest B.V. (the Netherlands), the parent company of Metinvest international vertically integrated mining and metallurgical group, on January 27, 2016 to convene a meeting of holders of eurobonds worth a total of $1.125 billion with respect to restructuring the securities.

According to a report by the issuer on the website of the London Stock Exchange (LSE), the court made the corresponding ruling on January 13, 2016.

The register of securities holders, who can take part in the meeting, will be closed at 17:00 New York time on January 22, 2016.

As reported, Metinvest B.V. at the end of December 2015 addressed eurobond holders asking to endorse the introduction of a moratorium on any payments on the securities until May 27, 2016.

The proposal concerns the owners of eurobonds for $500 million maturing in 2016, those worth $289.734 million maturing in 2017 and for $750 million with a maturity until 2018.