Metinvest plans to complete Eurobond restructuring by end-January

Ukraine’s leading metallurgical holding Metinvest (METINV) reported on Nov. 30 that “substantial progress continues to be made” in finalizing its restructuring proposal with its Eurobond holders. The holding expects the necessary documents to implement the restructuring will be published “on or prior to Dec. 19.”

Therefore, the holding expects the restructuring will be complete by end-January. Until the deal’s completion, Metinvest is going to continue to comply with its obligations, as agreed upon in the standstill agreement. Recall, Metinvest announced on Oct. 21 that it plans to complete the bond restrcuring by end-December.

Andriy Perederiy: Shifting the restructuring deadline again is not encouraging, but we believe it does not change the attractiveness of Metinvest Eurobonds and we affirm our positive view of them.