Metinvest B.V. (Netherlands), the parent company of the Metinvest mining and metallurgical group, is set to repay $428 million on its 2026 bonds with an 8.5% annual interest rate and $42 million on other obligations in 2026, for a total of $470 million.
According to a presentation based on Metinvest B.V.’s annual report, the company is scheduled to pay $332 million on its 2027 bonds at 7.65% per annum and an additional $19 million on other obligations in 2027, for a total of $351 million.
In 2028, the group is to pay only $18 million on other liabilities, and in 2029—$500 million on the 2029 bonds at 7.75% per annum and another $50 million on other liabilities, for a total of $550 million.
It is noted that the scheduled payments include only the principal amount of the debt (excluding accrued interest, fees, and discounts) as of December 31, 2025. In turn, trade finance lines are predominantly revolving, and therefore excluded from this repayment profile.
The company’s total debt as of December 31, 2025, decreased by 15% compared to 2024—to $1.441 billion from $1.705 billion. Net debt at the end of 2025 stood at $1.065 billion, and at the end of 2024—$1.048 billion.
The presentation notes that in 2025, the group, in particular, fully repaid its senior bonds totaling EUR300 million in the first half of the year. Since the beginning of 2022, it has repaid a total of $801 million in debt.
In July 2025, the group secured an 11.5-year buyer credit facility of EUR23.6 million for Northern GOK to finance the purchase of equipment for the tailings thickening project. The facility is covered by Finnvera, the Finnish export credit agency.
As reported, over the past month, Metinvest has explored refinancing options and resumed negotiations with its largest bondholders to extend the maturity of a portion of its outstanding senior bonds maturing in April 2026. Ultimately, the group intends to fully repay the bonds but will continue to seek opportunities to access debt markets in the future.
In 2025, Metinvest reduced its EBITDA by 24.2% compared to the previous year—to $765 million from $1.009 billion. The company ended 2025 with a net loss of $191 million, compared to a net loss of $1.152 billion in 2024. Meanwhile, pre-tax profit stood at $77 million, whereas the company reported a pre-tax loss of $1.138 billion for 2024. Revenue for the past year decreased by 6% to $7.242 billion. The company reported an operating profit of $319 million for the reporting period, compared to an operating loss of $858 million in 2024.
Metinvest CEO Yuriy Ryzhenkov noted in his comments a “disciplined and responsible approach to debt management.”
“Between 2022 and 2025, we reduced total debt by approximately $800 million, to $1.441 billion as of December 31, 2025. This is a significant achievement, given the extraordinary circumstances in which we operated,” the CEO emphasized.
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 European Union countries, the United Kingdom, and the United States. The holding’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.
