Interpipe international vertically integrated pipe and wheel company has announced the partial redemption of eurobonds 2024 for a total of $97 million.

According to a company press release on Tuesday, Interpipe Holdings Plc repurchased its outstanding bonds at their principal (nominal) value together with accrued interest.

The remaining debt on bonds currently amounts to $113.692 million.

As reported, Interpipe announced on October 25, 2019 that the restructuring was completed with a partial cancellation of the group's existing debt to its main financial lenders, including $200 million eurobonds with a 10.25% coupon and repayment in 2017. As a result of the restructuring, the debt was reduced and issued with new $309.192 million eurobonds at 10.25% due in 2024 and a loan of $45.808 million maturing at the end of 2020.