Interpipe signs Eurobond lock up and support agreement

Interpipe announced earlier this week that it signed lock up and support agreements with 74% of the holders of its USD 200 mln Eurobonds due in August. The deal means that bondholders will not pursue actions that could lead to cross-default until February 2 or later, as stipulated in their agreement. The contracts also oblige Interpipe to pay bondholders USD 2.5 for every USD 1,000 in principal. Interpipe also asked to push back the stop date from February 2 to February 28.