Metinvest Mining and Metallurgical Group will analyze the results of a previously announced tender for the redemption of up to $150 million of its eurobonds maturing in 2023 at the face value, which are now circulating on the market with a total face value of $311.238 million, and may continue to redeem them to reduce the debt burden.

As Metinvest CEO Yuriy Ryzhenkov said at a press conference on the company's 15th anniversary in Kyiv on Wednesday, "we have significantly reduced our debt burden, and announced a tender to redeem part of eurobonds. We will see. Perhaps we will still enter the market for further reducing the debt burden."

At the same time, he said that "no one expected a super cycle on raw materials observed at the present time."

"Apparently, this is driven by an increase in demand due to the implementation of infrastructure projects in the world. But how long such super cycle will last – no one can say for sure. Our task is to make the most of it," the manager said.

Answering the Interfax-Ukraine's question whether the company plans to enter the financial markets to raise funds for the implementation of large projects, Ryzhenkov explained that Metinvest is reducing its debt burden in order to obtain more favorable conditions in case of raising capital. So, the plans are to continue the practice of raising funds to finance the modernization of mill No. 1700 and continuous casting machine No. 4, when loans were attracted for seven-ten years at a rate of less than 4%.

As reported, Metinvest Group on June 17 announced a tender for the redemption of up to $150 million of its eurobonds maturing in 2023 at the face value, which are now circulating on the market with a total face value of $311.238 million.

Metinvest is a vertically integrated group of mining and metallurgical enterprises. Its enterprises are located in Ukraine – in Donetsk, Luhansk, Zaporizhia and Dnipropetrovsk regions, and in European countries.