Mechel announced of new parameters of its bonds of 17-19 series
Edited by Rhod Mackenzie / 2016-06-06 06:05:18
Bond holders approved new parameters of bonds of the 17-19th series by absent voting.
Mechel has announced that over 75% of holders of its bonds of 17-19th series approved new parameters of settlement and interest payment.
In particular, new conditions presuppose a smooth debt amortization by 2021 and coupon rate determined at the average between the key rate of the Bank of Russia +2.5% and a fixed rate for each year (annual all by 1% from 13.5 to 9.5%).
The agents of restructuring are VTB Capital, GPB Bank, svyaz-Bank.
The agreed conditions will allow to have a smooth schedule of settlement of the debt without a significant outflow of funds out of the operational flow of the group, the CEO of Mechel, O. Korzhov, said.
