Metinvest mining and metal company in January paid $2.747 million of interest under the eurobonds due in 2016-2018 being restructured.
According to a report on the Irish Stock Exchange, the amount is equal to 30% of accrued and unpaid interest under the notes from and including December 31, 2016 up to but excluding January 31, 2017.
Some $228,722 was paid on 2016 notes, $796,611 on 2017 notes and $1.721 million on 2018 notes.
In addition, the issuer capitalized $6.409 million of interest accrued over the period that could not be paid as the group did not have extra free cash exceeding $180 million – the indicator in January was $158.62 million compared to $200.98 million a month ago.
After the capitalization the nominal amount of the 2016 note issue was expanded by $532,700, to $89.791 million, the 2017 note issue – by $1.859 million, to $305.33 million and the 2018 note issue – by $4.017 million, to $790.94 million.
The company said that the record date for the 2016 notes January cash pay interest amount was January 16, 2017. (Interfax/Ukrainian metal)