Interpipe obtains consent of majority of creditors for restructuring of debt on 2017 bonds

17:53, 28.08.2019 1 min read

The Interpipe international vertically integrated pipe and wheel company has obtained consent of the majority of creditors for restructuring of the company's debt on its 2017 bonds.

According to a company announcement on Wednesday, most holders of secured bonds guaranteed by Interpipe Nyzhniodniprovsky Pipe Rolling Plant (NTZ), Interpipe Niko-Tube and Interpipe Ukraine in the amount of $200 million at 10.25% per annum due in 2017 gave their consent to the terms of the restructuring conditions proposed by Interpipe.

At the same time, the company said that the consent was obtained on the terms and subject to the conditions contained in the memorandum of consent dated August 14, 2019.