Metalloinvest plans to settle euro bonds for $700 mln on its account

​Metalloinvest plans to settle euro bonds for $700 mln in July 2016, financial director P. Mitrofanov said.

The company plans to reduce the debt in absolute terms and considers various variants by bonds for $700 mln with the settlement in July. Currently the settlement will be more effective and we have the necessary funds, CFO said.

The structure of debt of Metalloinvest in 2015 was the following: euro bonds – 39%, syndicated loan-32%, loans issued by Sberbank-17%, bonds in roubles -6%.

As of the end of December 2015 the net debt of Metalloinvest made up $3.563 bln, by 14.9% less than in 2014. The net debt/EBITDA rate reached 2.49 against 2.13 a year earlier. The stake of long-term loans and loans fell to 83.9% against 86.4% a year earlier.

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