Metinvest to pay USD 6.5 mln in METINV'21 interest on Apr. 18

2018/4/13 12:36:17

Analyst: “This is likely to be the last full-month PIYC payment.”


KYIV, Apr 13, 2018 - Ukraine’s leading steel holding Metinvest (METINV) reported on April 11 that it will allocate USD 10.3 mln for an early payment on April 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.


Concorde analyst Dmytro Khoroshun added: “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 December 18.




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