24 March 2017
The largest Ukrainian iron ore and steel producer restructured its obligations in total amount of USD 2.3bln
According to the group, as a result of the agreement achieved three issues of the group's eurobonds maturing in 2016, 2017 and 2018 were annulled, instead of which new eurobonds worth USD 1.2bln with maturity date in late 2021 were issued.
In addition, four contracts on syndicated pre-export financing credit lines were set out in a new wording, which foresees the abolition of defaults and other liabilities on these lines. The new version, among other things, provides for the unification of the four credit lines into one worth USD 1.1bln maturing in mid-2021, according to a press release.