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Metinvest reduces debt

8 May 2018

Metinvest, the vertically integrated group of steel and mining companies, has repaid part of its pre-export finance (PXF) facility ahead of schedule and demonstrated its commitment to reducing its debt further following the successful completion of the debt refinancing in April 2018.

That transaction, the largest ever of its kind by a Ukrainian corporate, refinanced US$2,271 million of debt through two new bond issues totaling US$1,592 million and a US$765 million PXF facility. It also created US$205 million of additional liquidity, which the Group has used to voluntarily repay ahead of schedule the amount due under the PXF facility in the first year after the transaction. Following this repayment, the total outstanding under the PXF facility is US$624 million.

This early repayment allowed certain PXF agreement restrictions to be eased, including regarding some restricted payments.

For editors:

Andriy Bondarenko
Head of Investor Relations
Tel.: +41 22 591 03 74 (Switzerland)
Tel.: +380 44 251 83 24 (Ukraine)
andriy.bondarenko@metinvestholding.com

Yana Kalmykova
Manager of Investor Relations
Tel.: +380 44 251 83 36 (Ukraine)
yana.kalmykova@metinvestholding.com

METINVEST GROUP is a vertically integrated group of steel and mining companies that manages every link of the value chain, from mining and processing iron ore and coal to making and selling semi-finished and finished steel products. It comprises steel and mining production facilities located in Ukraine, Europe and the US, as well as a sales network covering all key global markets, and has two operating segments, Metallurgical and Mining. Its strategic vision is to become a leading vertically integrated steel producer in Europe, delivering sustainable growth and profitability resilient to business cycles and providing investors with returns above the industry benchmarks. For the 12 months ended 31 December 2017, the Group reported revenues of US$8.9 billion and EBITDA margin of 23%.

METINVEST HOLDING, LLC is the management company of Metinvest Group.