Interpipe to redeem USD 97 mln of notes

Ukraine’s largest pipe and railway wheel producer Interpipe
(INTHOL) will redeem at par USD 97 mln of its 2024 notes on Aug. 25, according
to the company’s Aug. 14 announcement filed with the Luxembourg stock exchange.

After this early redemption, the amount outstanding of
INTHOL’24 notes will be USD 113.7 mln, according to Concorde Capital
calculations.

Recall, in January Interpipe redeemed USD
98.5 mln of its INTHOL’24 notes.

Dmytro Khoroshun: Interpipe
will save about USD 10 mln per year in interest payments due to this
redemption, which is a good-enough reason for this move. The company’s strong
liquidity position, reported at USD 190 mln in mid-June,
should allow Interpipe to finance the redemption fully with its own funds.