The mining and metallurgical group intends to redeem the bonds for cash, the minimum redemption price is $1,073 for each $1,000 of the bond par value.
The Metinvest mining and metallurgical group will hold a tender for the repurchase of up to $150 million at the face value of its Eurobonds maturing in 2023, which are now circulating on the market with a total face value of $311,238 million.
According to the message of the holding company Metinvest BV, holders of Eurobonds can submit both competitive bids with a $0.5 step and non-competitive ones.
Applications are accepted until the evening of June 24th. The results of the tender will be announced on June 25th.
In 2020, Metinvest increased its net profit by 54% — to $526 million, EBITDA — by 82%, to $2,204 billion, with a decrease in revenue by 3% — to $10,453 billion.
The company's total debt for 2020 decreased by 3% compared to 2019 — to $2,937 billion. At the same time, the amount of cash increased three times — to $826 million. Net debt decreased by 23% — to $2,111 billion from $2,758 billion.
