Home / News / Ukraine / "Metinvest " will redeem all 2021 Eurobonds for $ 115.3 million and 2023 Eurobonds for $ 193.2 million

"Metinvest " will redeem all 2021 Eurobonds for $ 115.3 million and 2023 Eurobonds for $ 193.2 million

Ukraine / Business and Finance

It is also reported that the total principal amount of the 2023 bonds that will remain outstanding after the completion of the offer will be $ 311.238 million.

"Metinvest " will redeem all 2021 Eurobonds for $ 115.3 million and 2023 Eurobonds for $ 193.2 million

Metinvest B.V. (Netherlands), the parent company of the Metinvest mining and metallurgical group, will redeem all the 2021 Eurobonds previously issued by the company for $ 115.3 million and part of the 2023 Eurobonds for $ 193.2 million, according to Metinvest B.V. on the first results of obtaining consent to buy back its Eurobonds with maturity in 2021 and 2023 and issue new Eurobonds.

According to the document, currently there are 2021 Eurobonds in circulation in the amount of $ 115.3 million, and with amendments and recalculation with a fixed interest rate, $ 118.020 million will be spent on their redemption.

There are also Eurobonds-2023 "Metinvest " in circulation for a total of $ 504.515 million, while within the first stage (with the end of acceptance on September 28), applications for the repurchase of these bonds for $ 193.227 million were accepted.

It is also reported that the total principal amount of the 2023 bonds that will remain outstanding after the completion of the offer will be $ 311.238 million.

As reported, "Metinvest " is placing 7-year Eurobonds worth $ 333 million with a yield of 7.95%. Demand for Eurobonds exceeded $ 1.6 billion.

Eurobonds-2021 with a par value of $ 115.31 million and Eurobonds-2023 with a par value of $ 504.52 million are in circulation. According to the proposal, the volume of redemption of Eurobonds-2023 is limited by the condition that securities in circulation amount to at least $ 300 million. if all 2021 Eurobonds are presented to the offer, then the volume of redemption of 2023 Eurobonds will amount to $ 164.25 million.

"Metinvest " also announced that it has already received information from the holder of Eurodond-2021 for $ 80.8 million about the intention to accept the offer. If the holders of 75% of the issue accept the buyout offer, Metinvest will have the right to buy out all outstanding Eurodond-2021.

According to the promulgated terms, Eurobonds-2021 with early filing of applications are redeemed at a price of 103% of the face value, Eurobonds-2023 - at 104.25% of the face value.

The early deadline for accepting applications for the redemption of bonds is 2021 and 2023, as well as the deadline for granting consent to change the terms of early redemption of bonds-2021 - until September 28 inclusive, the final deadline is October 13 inclusive. The earliest expected settlement date is October 1, and the final one is October 16.

"Metinvest " is a vertically integrated mining group of companies that manages assets at every link in the production chain: from iron ore and coal mining and coke production to the production of semi-finished products and finished products from steel, rolled pipes and coils, as well as the production of other products with high added value. The group consists of mining and metallurgical enterprises located in Ukraine, Europe and the United States and has a sales network covering all key world markets.

The main shareholders of Metinvest are SCM Group (71.25%) and Smart Holding (23.75%), jointly managing the company.

LLC "Metinvest Holding " - the management company of the "Metinvest " group.

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