Metinvest B.V. (Netherlands), the parent company of an international vertically integrated mining and metallurgical group, made a scheduled coupon payment on its 2027 Eurobonds.
As the group’s press service reported on Wednesday in response to a request from the “Interfax-Ukraine” agency, the payment was made on time, despite unprecedented challenges that have pushed the steel industry to the brink of survival.
“The aggressor’s blockade of Black Sea ports is limiting the volume of raw material and finished product shipments. At the same time, Ukrzaliznytsia has raised freight rates by 30%, which has increased the share of rail costs in the cost of metallurgical products by 2–3 times. And all of this is taking place against the backdrop of European restrictions, such as the introduction of CBAM and import quotas on Ukrainian steel into the EU, which have significantly reduced the group’s export opportunities,” the statement notes.
At the same time, it is noted that despite these critical obstacles, the group continues to diligently service its debt portfolio to preserve the ability to finance the restoration of its assets after the war and help the country recover more quickly from its aftermath. Since the start of the full-scale invasion, Metinvest has reduced its debt burden by $1 billion, the press service’s response emphasizes.
The current coupon payment dates for the 2027 Eurobonds are September 1. “Coupon payment dates are March 1 and September 1 of each year,” states the information regarding the 2027 bonds. The coupon rate is 7.650% per annum.
Metinvest is a vertically integrated group of mining and metallurgical enterprises. Its facilities are located in Ukraine—in the Donetsk, Luhansk, Zaporizhzhia, and Dnipropetrovsk regions—as well as in the European Union, the United Kingdom, and the United States.
The holding company’s main shareholders are the SCM Group (71.24%) and Smart Holding (23.76%). Metinvest Holding LLC is the management company of the Metinvest Group.
