Metinvest to pay USD 6.5 mln in METINV'21 interest on Apr. 18
12 April 2018
Ukraine’s leading steel holding Metinvest (METINV)
reported on Apr. 11 that it will allocate USD 10.3 mln for an early payment on
Apr. 18, of which the only disbursement to the holders of its METINV’21
Eurobond would be the USD 6.5 mln of Pay-If-You-Can (PIYC) interest for the
period of March 18 – Apr. 17.
The METINV’21 principal amount outstanding will remain
the same as on March 18, USD 1,187.1 mln. The record date for the payment is
Apr. 17.
Dmytro Khoroshun: This is
likely to be the last full-month PIYC payment, because on Apr. 23 (the expected
settlement date for Metinvest’s recent refinancing and exchange deal)
would become a vanilla, bullet-redemption bond with a 7.5% semi-annual coupon
payable on June 18 and Dec. 18.
