The Metinvest Group of Rinat Akhmetov and Vadim Novinsky announced the successful completion of a transaction to extend the maturity of its Eurobonds. The group's debut issue in two currencies, consisting of tranches denominated in USD and EUR, extended by 6.5 years the maturity of the USD 944.515 million bonds due in 2023 in the amount of USD 440 million, while the net proceeds from the transaction amounted to about 350 million US dollars.
As emphasized in Metinvest, the deal received significant support from the global investor community and leading European financial institutions.
The yield on the USD tranche is the lowest in Metinvest's history and has the longest maturity. The debut euro tranche was issued with the lowest yield ever achieved by Ukrainian issuers (including the sovereign), which helped Metinvest diversify the currency structure of its debt portfolio, significantly expand the investor base and improve its quality composition.
According to Yuri Ryzhenkov, CEO of Metinvest Group, part of the net proceeds from the transaction will be used to pay off short-term liabilities of the group, and part will be used to accelerate the implementation of the Technology Strategy 2030.
Most bond investors are from the United States , UK and continental Europe. Deutsche Bank, Natixis and UniCredit acted as joint organizers of the new issue and dealer-managers of the tender. Allen & Overy and Avellum provided legal support to Metinvest, while Linklaters and Sayenko Kharenko provided the issue organizers.
