Ukrainian industrial company INTERPIPE announces full early redemption of Eurobonds in the total amount of USD 309 192 thousand 058 with contract maturity in 2024.
The final repayment was made on January 26, 2021.
In October 2019, Interpipe announced the restructuring of its debt, which was formalized into a new issue of Eurobonds-2024 and bank loans totaling $ 400 million.
Over the past year, Interpipe made a series of partial early redemptions of Eurobonds: in January - by $ 98.5 million, in August - by $ 97 million, in October - by $ 32.4 million, in December - by $ 74.8 million dollars. On January 26, 2021, the company made its last repayment in the amount of $ 6.5 million. In addition, the company previously paid off $ 90.8 million in bank debt.
Denis Morozov, Director for Economics and Finance, Interpipe:
- The company has successfully completed this difficult stage by early repayment of debt totaling $ 400 million. After the restructuring, the company used all available funds to pay off its debt to creditors. Now the financial condition of Interpipe is stable and stable, this allows us to start a new page and focus on the implementation of the company's development strategy.
About the company:
Interpipe is a Ukrainian industrial company, manufacturer of seamless pipes and railway wheels. The company's products are supplied to more than 80 countries of the world through a network of sales offices located in key markets of the CIS, the Middle East, North America and Europe. In 2020, Interpipe sold 662 thousand tons of finished products, including 192 thousand tons of railway products. Railway products are sold under the KLW brand.
Interpipe employs 11 thousand people. In 2019, the Company transferred UAH 3.25 billion to the budgets of all levels.