Metinvest to pay USD 6.5 mln in Eurobond interest on Jan. 18

12 January 2018

Ukraine’s leading steel holding Metinvest (METINV) reported on Jan. 11 that it will allocate USD 10.2 mln in an early repayment on Jan. 18, of which the only disbursement to the noteholders would be the USD 6.5 mln of Pay-If-You-Can (PIYC) interest for the period of Dec. 18 - Jan. 17. The Eurobond principal amount outstanding will remain the same as on Dec. 18, USD 1,187 mln.

 

Recall, Metinvest had made an analogous payment to noteholders (USD 6.5 mln of PIYC interest) a month ago.

 

Dmytro Khoroshun: These monthly early payments of PIYC interest should have very little effect on Metinvest’s finances when compared to paying the PIYC interest once a quarter. The only pronounced effect for the noteholders is a further complication with trading the Eurobond because calculating and settling the accrued coupon might require more effort.

 

We are keeping our neutral view on METINV Eurobonds.

Upcoming Events

Apr 27
EXIMUK:
USD 36.1 mln coupon on 2022 notes
Apr 27
DTEKUA:
2017 annual results - call
May 10
AST PW:
1Q18 interim report
All Events →