Metinvest, an international vertically integrated group of mining and metallurgical companies (hereinafter – “Metinvest” or “Group”), has repaid the majority of its pre-export debt obligations ahead of schedule due to strong financial performance and stable liquidity level.
In particular, Metinvest repaid US $ 68,000,000 ahead of schedule through pre-export financing. After this repayment, the amount outstanding under this line is $ 10,000,000.
In addition, the Group agreed to amend the terms as part of the restructured debt of the Pokrovskaya Coal Group in the amount of $ 480,000,000. Among other changes, the interest rate on these debt obligations was significantly reduced, and the final maturity date was postponed to 2026 with the possibility of early redemption. As a reminder, the Pokrovsk Coal Group became part of the Group in March 2021.
Commenting on this news, Yuri Ryzhenkov, CEO of Metinvest Group, noted:
“We are grateful to our partners for their cooperation. Debt reduction is in line with our strategy of proactive capital structure management “.