LONDON, Nov 17 (Reuters) – Ukraine’s largest steelmaker Metinvest expects to be able to pay a $170 million Eurobond due in April, its finance director Yana Kalmykova said on Thursday.
Metinvest is one of a number of Ukrainian companies which has seen revenues and operations disrupted by Russia’s invasion on Feb 24.
Headquartered in Mariupol, the company owes $1.85 billion in one euro-denominated 2025 bonds and four dollar bonds maturing between 2023 and 2029.
“Even in the current circumstances, overall Metinvest is capable to cope with its debt service,” said Kalmykova during a Ukraine investor conference in London.
The amount due on April 23, on a U.S. dollar-denominated bond issued by the steelmaker’s Netherlands based holding company, compares to an overall cash balance the company had of $660 million at the end of October, Kalmykova added.
The bond currently is bid at 62 cents in the dollar, according to Refinitiv data.
Metinvest has metal and mining operations in Ukraine, Europe and the United States. It owns Azovstal iron and steel works, one of the main battlegrounds during the siege of Mariupol. (Reporting by Karin Strohecker, editing by Jorgelina do Rosario and Elaine Hardcastle)
