Metinvest places USD 500 mln in Eurobonds at 10.5%

Metinvest, the holding company for the metals & mining assets of System Capital Management, Ukraine’s largest company, on Friday placed USD 500 mln in five-year Eurobonds with a 10.25% coupon and YTM of 10.5%. Fitch rated the issuance an expected senior unsecured rating of ‘B-‘ and recovery rating of ‘RR4;’ Moody’s rated the issue an expected ‘B3’ rating. Metinvest became the fourth Ukrainian company after Ukreximbank, DTEK and MHP to issue Eurobonds in 2010.