Metinvest has announced a buy back of its Eurobonds with maturity on April 23, 2023 valued at $70 million for 70% to 80% of their nominal price.
The group highlights that it intends to service its debt, but the ongoing war and unstable prices for Metinvest products create unprecedented problems for its operation.
At present Metinvest has $168.583 million worth of 2023 Eurobonds on the market, while their initial amount was $944.15 million.
The offers are accepted till December 9, the results will be announced on December 12 and the bonds will be bought on December 14.
Metinvest could prolong the buy back until December 23, but the price would be 3% lower. In this case, the results will be announced on December 28 and the bonds will be purchased on December 29. (Ukrainian metal)