Metalloinvest Finance Designated Activity Company (IRSH)
Metalloinvest Finance Designated Activity Company: Metalloinvest announces
early repayment of Eurobonds-2020
24-Sep-2019 / 17:40 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Metalloinvest announces early repayment of Eurobonds-2020
Moscow, Russia - 24 September 2019 - Metalloinvest ("the Company"), a
leading global iron ore and HBI producer and supplier, and one of the
regional producers of high-quality steel, today announces that it has
elected to make early repayment of its Eurobonds-2020.
In order to optimise its loan portfolio, the Company has decided to redeem
its outstanding Eurobonds of a principal amount of USD 270.6 mn. The bonds
maturity date was scheduled for April 2020.
Alexey Voronov, Finance Director of Management Company Metalloinvest,
commented:
"In line with the Company's Debt Management Strategy, we decided to exercise
a make-whole call[1] pursuant to Eurobond-2020 and repay the outstanding
Eurobonds prior to the scheduled maturity date in April 2020. Today, the
noteholders were informed of the early repayment. The Eurobonds' repayment
will be financed by the new PXF-2019 loan signed with international and
Russian banks last week.
"Following the "any and all"[2] Eurobonds-2020 tender offer completed in
April 2017, the outstanding Eurobonds' nominal value was USD 332.7 mn, while
the total issue size had been USD 1 bn. Additionally, in 2019, the Company
completed a partial repayment of the Eurobonds-2020 in the principal amount
of USD 62.1 mn. As a result, the current outstanding principal amount of the
Eurobonds is USD 270.6 mn."
# # # #
For more information, please contact:
Artem Lavrischev
Director of Investor Relations and Corporate Ratings
E: ir@metalloinvest.com
T: +7 (495) 981-55-55, ext. 7243
Metalloinvest is a leading global iron ore and merchant HBI producer and
supplier, and one of the regional producers of high-quality steel. The
Company has the world's second-largest measured iron ore reserve base and is
one of the lowest-cost iron ore producers.
Metalloinvest is wholly owned by USM Holdings. The main beneficiaries of USM
Holdings are Alisher Usmanov (49%) and Vladimir Skoch (30%).
=---------------------------------------------------------------------------
[1] A make-whole call provides the borrower an opportunity to redeem bonds
(in whole but not in part) prior to the scheduled maturity
[2] An "any and all" tender is an offer to repay at the announced price any
number of issued securities presented within a fixed term
ISIN: XS0918297382
Category Code: MSCL
TIDM: IRSH
Sequence No.: 21133
EQS News ID: 879085
End of Announcement EQS News Service
(END) Dow Jones Newswires
September 24, 2019 10:40 ET (14:40 GMT)
© 2019 Dow Jones News
