11:24 13.01.2020

Interpipe pays $98.6 mln on eurobonds pursuant to agreed additional terms for restructuring

1 min read
Interpipe pays $98.6 mln on eurobonds pursuant to agreed additional terms for restructuring

The Interpipe international vertically integrated pipe and wheel company reported on January 11 that the company paid $98.5 million of the partial redemption on 2024 eurobonds with a coupon 10.25% per annum pursuant to the agreed additional terms for the debt restructuring.

Interpipe Holdings Plc said in a press release that the company on January 10, 2020 redeemed $98.5 million of its outstanding notes at their principal amount, together with interest accrued to the redemption date.

The remaining outstanding under the notes now amounts to $210.692 million.

As reported, in October 2019, Interpipe announced the completion of the restructuring of the existing debt owed by the group to its principal financial creditors, including $200 million 2017 eurobonds with a coupon of 10.25% per annum. As part of the restructuring, the issuer issued $309.192 million in aggregate principal amount of 10.25% guaranteed notes due 2024 and a $45.808 million loan to be paid at the end of 2020.

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