Metinvest Mining and Metallurgical Group after obtaining consent from the holders of 96.8% of eurobonds with circulation until 2021 to change the terms of circulation of the securities will reduce the coupon rate to 7.5% per annum, the group said on the website of the Euronext Dublin stock exchange.

According to the offer, the yield at the specified rate will be accrued from the date of start of circulation of new eurobonds issued within the previously announced refinancing of 2021 eurobonds and pre-export financing. Interest payments will be made on June 18 and December 18.

As reported, on March 19 Metinvest offered the holders of eurobonds circulating in the market, the total nominal volume of which is $1.187 billion, to redeem the securities ahead of schedule.

The group at the initial stage of the offer received proposals for the buyback of eurobonds for $1.068 billion. In addition, the holders of eurobonds worth $1.149 billion agreed to amend the terms of their circulation.

The deadline for applications for redemption expires at 16:00 London time on April 19, 2018.

Metinvest also reported on achieving agreement with the creditors, who provided pre-export financing (PXF-financing), on the revision of the terms of loans, including their extension.