Azovstal To Buy Back USD 175 mln LPNs
6 June 2008
According to a local daily, citing an undisclosed investment bank, Azovstal (AZST: U/R) intends to exercise an option to buy back its USD 175 mln loan participation notes in February next year. No other details were provided. Metinvest Holding (Azovstal’s parent) did not comment on the issue. Vladimir Nesterenko: Provided ‘undisclosed bankers’ do not simply manipulate the market, there could be many reasons for a buyout. For example, Azovstal might foresee the possibility of refinancing at a lower rate. We hope Metinvest will clarify this soon.
