Interpipe redeems USD 32.4 mln of 2024 notes
6 October 2020
Ukraine’s largest pipe and railway wheel producer
Interpipe (INTHOL) redeemed at par USD 32.4 mln of its 2024 notes on Oct. 5,
according to the company’s release on the same date.
After this early redemption, which Interpipe announced on Sept. 25,
the amount outstanding of INTHOL’24 notes is USD 81.3 mln, according to the
release.
Recall, Interpipe redeemed USD 97 mln of its notes in August
and USD 98.5 mln in January.
Dmytro Khoroshun: We see the following possible reasons for Interpipe’s redemption of
its notes: the high interest cost, the owner’s hypothetical intention to sell the company, and the scenario of the company refinancing the remainder of
the notes, possibly paying out
dividends from the funds raised.
