Court of England permits convening meeting on Metinvest bond restructuring

16:48, 09.06.2016 1 min read

The High Court of Justice of England and Wales has permitted Metinvest B.V. (the Netherlands), the parent company of Metinvest international vertically integrated mining and metal group, to convene a meeting of holders of guaranteed notes worth $1.134 billion devoted to the note restructuring issues for June 28, 2016.

Metinvest reported on the Irish Stock Exchange (ISE) that the court made the decision on June 8, 2016.

The Record Date will be 5 p.m. (New York time) on June 23, 2016.

Metinvest has agreed the restructuring of eurobonds and pre-export finance facilities (PXF) facilities with a committee of creditors. The agreement concerns $85.5 million notes due in 2016, $298.6 million notes due in 2017 and $750 million notes due in 2018 and $1.07 billion PXF facilities. 75% of noteholders must approve the offer to validate it.