Metinvest repays $1.34 mln interest on restructured eurobonds

09:28, 22.02.2016 1 min read

Metinvest mining and steel group has paid $1.34 million in interest income on 2016-2018 eurobonds being under restructuring.

"The company made early payments to eurobond holders and paid $1.34 million in interest income," the press service of the group told Interfax-Ukraine.

According to a report by the issuer on the website of the Irish Stock Exchange, this amount is 30% of the accrued and unpaid interest income for the period from January 31 to February 15, 2016. Initially the payment of interest income was scheduled for February 22 during the next few days.

The company said the register for payments closed on February 5.

As reported, Metinvest at the end of December 2015 appealed to the holders of its eurobonds to endorse the introduction until May 27, 2016 of a moratorium on any payments on the securities.

During the validity of the moratorium the company intends to achieve an agreement on the restructuring of these eurobonds, as well as pre-export financing in the amount of $1.089 billion.