Interpipe restructures remaining bank debt

Interpipe agreed on restructuring conditions for its bank debt, extending the maturity until 2018 and setting the interest rate at Libor + 6 pp. Owner Victor Pinchuk is also set to inject USD 60 mln into the company’s equity, according to the deal terms. Earlier in September, Interpipe restructured its USD 200 mln Eurobond, prolonging the maturity until 2017 and setting the coupon rate at 10.25% (up from 8.75% previously); the company already made the  first coupon payment on the restructured Eurobond, together with overdue coupons, at the end of October in the amount of USD 17.5 mln. Interpipe has yet to publish its IFRS financials for FY 2008 and 2009.