Thursday23 January 2025
ord-02.com

Metinvest will buy back $16.3 million of its 2025 Eurobonds following the results of the tender.

Bonds with a total nominal value of €161.886 million will remain in circulation.
«Метинвест» выкупит еврооблигации-2025 на сумму $16,3 млн по итогам тендера.

The mining and metallurgical group "Metinvest" will repurchase its eurobonds maturing on June 17, 2025, with a total nominal amount of $16.27 million following the auction announced on December 9. The price was set between 86% and 92.5%, with a total repurchase limit of €70 million.

This is stated in the company’s stock market announcement.

After the repurchase, bonds with a total nominal amount of €161.886 million will remain in circulation.

Settlements will take place on December 23. Deutsche Bank acts as the deal manager.

Recall that "Metinvest" has cited its goal for the repurchase as active management of debt load, smoothing out debt servicing payments, enhancing the overall debt resilience of the group, and reducing liquidity pressure in light of the upcoming bond repayments, considering the heightened risks for "Metinvest" due to the operational environment in Ukraine.

According to data from the Frankfurt Stock Exchange, the last quotation for "Metinvest's" eurobonds maturing in 2025 with a coupon rate of 5.625% was 86.95% on October 29, 2024, after which the paper was removed from trading, while on the Stuttgart Stock Exchange on Wednesday it stood at 86.954%, writes "Interfax-Ukraine".

"Metinvest" is a vertically integrated group of mining and metallurgical enterprises. The group's facilities are primarily located in the Donetsk, Luhansk, Zaporizhia, and Dnipropetrovsk regions. The main shareholders of the holding are the "SCM" group (71.24%) and "Smart Holding" (23.76%), which jointly manage it.

Background. Previously, Mind reported that before the full-scale war, "Metinvest" produced about 14 million tons of steel. Currently, due to the loss of part of its production capacities, output has decreased to 5.5–6 million tons. Despite this, the company plans to expand production and invest in "green metallurgy" both in Ukraine and in Europe.