Metinvest pays $1.45 mln of bonuses for bonds under restructuring

12:27, 12.04.2016 1 min read

Metinvest mining and metal group has paid $1.45 million under the additional scheme consideration for notes under restructuring due in 2016-2018.

The company said on the website of the Irish Stock Exchange (ISE), the sum was accrued for noteholes who gave their consent to the company's additional scheme consideration: 1.25% of the face value of the notes they hold.

Some $109,000 was paid for notes due in 2016, $370,200 for notes due in 2017 and $971,500 for notes due in 2018.

The company said that the payments were settled as of April 1, 2016.

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.

The noteholders at a meeting on January 27, 2016 approved a temporary notes payment moratorium.