Donetskstal restructures USD 820 mln in debt

Donetskstal restructured USD 820 mln of its debt to international banks, Ukrainian banks and bonds holders, according to media reports yesterday. The company said it concluded over 35 credit agreements during the process, which will consolidate its debt cash flow and ease its service requirements. The debt restructuring coordination committee consisted of SMBC, ING Bank Amsterdam/Ukraine, Unicredit Bank AG Munich/Ukraine, BNP Paribas, Raiffeisen Bank International AG and Citibank Ukraine. Donetskstal beneficiary Viktor Nusenkis was reportedly personally involved in the process. Donetskstal group controls Yasynivsky Coke (UX: YASK UK) and Shakhtoupravlenie Pokrovskoye (UX: SHCHZ UK).