During the meeting with the shareholders Interpipe presented the preliminary plan to restructure its obligations of $1.25 billion.
The company, in particular, suggests converting this debt into 6-year eurobonds worth $310 million with 9.35% interest rate, and two loan tranches of $45 million from Ukrainian banks and $45 million from international banks. The rest of the debt will be written off.
Restructure also presupposes imposing a fine of $40 million on Interpipe if the company fails paying out on new eurobonds or loans from international banks. (Ukrainian metal)