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Interpipe repaid part of the bonds in the amount of 98.5 million dollars

Ukraine / Business and Finance

Interpipe Holdings Plc announces partial redemption of the bonds issued late last year as part of debt restructuring of Interpipe in front of the main financial lenders.

Interpipe repaid part of the bonds in the amount of 98.5 million dollars

Interpipe, the leading manufacturer of steel pipes, metal products and railway wheels, reported partial redemption posted in August 2017 bonds for a total amount of 309 192 058 US dollar under 10.25% per annum.

Remaining unpaid debt on the bonds Interpipe is currently 210 692 068 U.S. dollar.

Previously coalsalesthat the company Interpipe Holdings Plc (Interpipe) of the Victor Pinchuk Foundation, on 25 October 2019 completed the restructuring of existing indebtedness of the group prior to its main financial lenders.

as a result of restructuring existing debt of the group "Interpipe" has been reduced, and the remaining debt was amended and restated in the form of a series of new bonds, and several new lines of credit.

as part of the restructuring of the Interpipe Holdings issued new bonds in the amount of 309 192 058 dollars under of 10.25% with a maturity in 2024 and a loan 45,808 million dollars maturing in 2020.

Metallurgical company last year increased its revenue and profit before tax (EBITDA). Despite the General downturn in the global pipe market Interpipe for 9 months of 2019 EBITDA increased by 45% and revenues by 5%. For 9 months of 2019 kabelnye investments of the company increased by 8%.

the Company in January-November 2019 decreased steel production by 10.6% compared with the corresponding period of the previous year to 797,4 thousand tons. The production of pipes for 11 months decreased by 11.3% to 554,9 thousand tons in comparison with January-November 2018. Production of railway products for 11 months, in contrast, grew by 10.7% – up to 188 thousand tons. Sale of round steel billets over the same period increased by 25.3% to 23 thousand tonnes of railway products – by 7.3%, to 183,8 thousand tons.

it is among the ten largest producers of seamless pipes, is the third largest producer of forged railway wheels in the world.

the company has five industrial assets: "Interpipe Nizhnedneprovsky tube rolling plant (NTRP)", "Interpipe Novomoskovsk pipe plant (nmpp)", "Interpipe Niko-tube", "Dnepropetrovsk Vtormet" and the electric steel smelting complex "Ukraine" under brand "Interpipe Steel".

the company's Products are sold in more than 80 countries through a network of sales offices located in key markets of Ukraine, Europe, North America and the Middle East. In 2018, Interpipe has supplied 857 thousand tons of finished products, including 189 thousand tonnes of railway products. At the enterprises of Interpipe has 12 thousand people.

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