The largest Ukrainian private mining-metallurgical group Metinvest has started negotiations with its creditors as to the debt restructuring with possible variants in mind (change of the payment schedule, capitalization, some debt adjustment, etc.).
“We have just entered the negotiations. There is no final decision yet”, said the company CEO Yuri Ryzhenkov, adding that it should be a flexible decision, taking into account the uncertainty in future.
“We really need long repayment holidays”, he stressed. In case the world raw materials markets situation, as well as the situation in Ukraine, improves, the company would strive for advanced repayment.
Ryzhenkov also informed that the company was able to come up to terms with the banks.
Metinvest plans include the sale of some of its none-core assets. But the company doesn’t intend to buy new assets, it’s more interested in joint projects that don’t require substantial investments. (Ukrainian metal)