Metinvest intends to prolong the settlement of euro bonds-2015 for 8 months

​Metinvest due to the events in the Ukraine starts introducing the amendments into the conditions of its euro bonds with the settlement in 2015, 2017 and 2018 for the total nominal value of $1 bln 153.39 mln, in particular, suggests the turning away from certain events of the default and transfer of settlement of euro bonds-2015 for $113.65 mln from May 20th 2015 for Jan 31st 2016.

The company reports that the meeting of euro bonds holders is appointed on May 1st in London. Its decisions should be approved by 75% of votes.

Metinvest says that in case of agreement with its suggestions the holders of euro bonds-2015 will be paid $5 per each $1 thousand of nominal value, and the settlement of the main part of the debt will be held in 2 stages: on May 20th 2015 – 10%, on Jan 31st 2016 – 90%.

The holders of euro bonds-2017 and 2018 will be paid $2.5 per each $1 thousand of nominal value.