Ukraine’s mining and metal company Metinvest is holding consultations with lawyers on the possibility of postponing return of debts, Bloomberg news agency has reported, referring to its sources.
Metinvest explains its plans with the unstable situation in Eastern Ukraine. The company attracts Baker&McKenzie as a consultant, and its creditors are Deutsche Bank AG and ING Groep NV – Clifford Chance.
The sides do not comment on the situation.
Metinvest’s companies are mainly located in Donetsk, Luhansk, Zaporizhia and Dniepropetrovsk regions.
Metinvest is a vertically integrated group of mining companies that manages assets in every link of the production chain, from iron ore and coke production to semi-finished and finished steel products and rolled metal piping, as well as the production of other goods with high added value.
As of September 30, 2014, its total debt stood at $3.6 billion.
In early February 2015 the holding halted Yenakievo Iron and Steel Works and its branch – Makeevka Metal Works (both based in Donetsk region) due to hostilities in Donbass and the absence of railway communications in the antiterrorist operation (ATO) zone. (https://en.interfax.com.ua/news/economic/256079.html/Ukrainian metal)
