Ukraine’s Metinvest begins modified Dutch auction for 2026 notes

Chicago, Aug. 9 – Metinvest BV started a modified Dutch auction to buy up to $250 million of its $647,661,000 outstanding fixed-rate senior notes due 2026 (ISIN: XS1806400708), according to an announcement.

The minimum purchase price per $1,000 note is $1,140.

Through the offer, Metinvest seeks to manage its debt maturity profile and to deleverage and reduce the cost of debt.

Tendering noteholders may either submit competitive offers or non-competitive offers.

Competitive tenders should include the minimum purchase price the noteholder is willing to accept above the minimum purchase price in increments of $0.50.

Lower purchase prices will be accepted before higher purchase prices.

Noteholders may also submit tenders without specifying a purchase price.

All non-competitive tenders will be accepted before any competitive tenders are accepted.

Tenders may be prorated.

The same price will be paid to all tendering noteholders.

The offer will expire at 11 a.m. ET on Aug. 18. Results will be announced on Aug. 19. Settlement is expected for Aug. 20.

Deutsche Bank AG (+44 20 7545 8011) and Natixis (+33 158550556, liabilitymanagement.eu@natixis.com) are the dealer managers.

Lucid Issuer Services Ltd. is the tender and information agent (+44 20 7704 0880, metinvest@lucid-is.com).

Metinvest is a Mariupol, Ukraine-based holding company of a group of steel and mining companies.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.