The Group paid the bonds due in 2023 on time and in full.
Metinvest BV, the parent company of the international vertically integrated mining and metals group Metinvest, has announced the final payment of bonds due in 2023 on time and in full. This was reported by the press service of Metinvest on Friday, April 21.
“Metinvest’s redemption of 2023 bonds is a significant victory during the war and an important milestone for corporate issuers linked to Ukraine. Despite difficult conditions, the group demonstrated its commitment to bondholders This step demonstrates Metinvest’s reliability and the group’s prudent approach to managing liabilities In addition, the successful reduction of the debt burden will improve Metinvest’s financial flexibility in the face of unpredictability that war by significantly reducing debt payments until 2025,” Metinvest CEO Yuri Ryzhenkov commented on the payment.
Recall that Ryzhenkov previously said that his company suffered serious losses due to the war: some properties were partially or completely destroyed, and due to the blockage of ports, businesses could not deliver their products to customers. In particular, the Azovstal and Ilyich Iron and Steel Works, which produced about 8.6 million tons of steel in 2021, were destroyed.
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Source: korrespondent
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