Metinvest further improves debt portfolio quality

Metinvest further improves debt portfolio quality

17.05.2021

Metinvest, the international vertically integrated group of steel and mining companies (“Metinvest” or the “Group”), has repaid more of its debt ahead of schedule, taking advantage of its strong financial performance and robust liquidity position.

Metinvest has repaid US$68 million of its pre-export finance (“PXF”) facility ahead of schedule. Following the repayment, the balance due under the PXF facility is US$10 million.

In addition, the Group agreed to amended terms under the US$480 million restructured debt facility of the Pokrovske coal business, which was consolidated in March 2021. Among other changes, the interest rate on the facility was reduced significantly, while the final maturity date was moved to 2026 with an option of voluntary early repayment.

Commenting on the news, Yuriy Ryzhenkov, Chief Executive Officer of Metinvest, said:

“We are grateful to our partners for their cooperation. Deleveraging is consistent with our strategy of proactively managing our capital structure”.

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