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Interpipe placed $ 300 million in Eurobonds in less than a day

Ukraine / Business and Finance
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Half of the funds raised are planned to be used for general corporate purposes, the remaining 50% of the proceeds can be used to pay special dividends to shareholders.

Interpipe placed $ 300 million in Eurobonds in less than a day

Interpipe Holdings plc (Interpipe) of Ukrainian billionaire Victor Pinchuk announced today the successful full placement of its Eurobonds in the amount of USD 300 million. Goldman Sachs International and J.P. Morgan acted as joint bookrunners.

Eurobonds maturing in 2026 were admitted to listing on the Luxembourg Stock Exchange on May 13, 2021. The bonds were issued with a yield of 8.375% and received applications from about 50 investors, including an international financial institution.

Most of Interpipe's bonds were bought by investors from the USA, Great Britain and continental Europe in the distribution of 43%, 26% and 26%, respectively. Investors from Asia and the Middle East and North Africa accounted for 5% of the total market.

“Over the past years, we have made an impressive business transformation and achieved financial stability. And now Interpipe has successfully returned to the public debt capital market and has received a long-term stable capital structure, which opens up wide opportunities for further business development and growth ”, - commented the placement of Fadi Hraibi, Interpipe CEO.

Previously it was reported that the international rating agency Fitch Ratings has assigned a final senior unsecured rating of 'B' with an asset recovery rating of 'RR4' to the 5-year guaranteed Eurobonds of Interpipe Holdings plc.

Interpipe is a Ukrainian industrial company, a manufacturer of seamless pipes and railway wheels. The company's products are supplied to more than 80 countries around the world through a network of sales offices located in the key markets of the CIS, the Middle East, North America and Europe.

The company has five industrial assets: Interpipe Nizhnedneprovsk Pipe Rolling Plant (NTZ), Interpipe Novomoskovsk Pipe Plant (NMPP), Interpipe Niko-Tube, Dnepropetrovsk Vtormet and the Dniprostal electric steel-making complex under the Interpipe Steel brand.

The ultimate owner of Interpipe Limited is Ukrainian businessman Victor Pinchuk and his family members.

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