Back to news2021-01-26
Interpipe has redeemed its Notes in full
The Ukrainian industrial company Interpipe announces about the full redemption of its U.S.$309,192,058 10.25 per cent. Notes due in 2024.
Final partial redemption was conducted on January 26, 2021.
In October 2019 Interpipe announced about the successful completion of restructuring of the debt which was reinstated by means of a new issue of the Notes and several bank facilities that amounted to U.S.$400 million in total.
During 2020 Interpipe conducted several partial redemptions of the Notes, in particular: U.S.$98,500,000 in January, U.S.$97,000,000 in August, U.S.$32,400,000 in October and U.S.$74,819,932.09 in December. On January 26, 2021 Interpipe conducted the final partial redemption for U.S.$6,472,125.91. Moreover, earlier Interpipe also repaid U.S.$90.8 million under the bank facilities.
Denis Morozov, Interpipe's Chief Financial Officer:
Interpipe has successfully crossed this milestone having repaid the U.S.$400 million debt in advance of the contractual amortization schedule. Upon the debt restructuring completion the Company has been directing all available cash into repayment of its debts owed to creditors. As of today, Interpipe's financial position is sustainable and firm that allows us starting with a new page and focusing on the implementation of the Company's development strategy.
About Interpipe:
Interpipe is a Ukrainian industrial company, a producer of seamless pipes and railway wheels. Company's products are marketed in more than 80 countries all around the world via the network of sales offices, located at the key markets of the CIS, Middle East, North America, and Europe. In 2020, Interpipe sold 662 kt of finished goods, including 192 kt of railway products. The latter are marketed under the KLW brand.
Interpipe has 11 thousand people working at the Company's facilities. In 2019, the Company transferred UAH 3.25 bln in taxes to the budgets of all levels.
Contacts for the mass media:
Andrey Pisarevskiy
Press Officer
Phone: +380 44 233 66 53
Cell: +380 67 952 17 62
Andrey.Pisarevskiy@m.interpipe.biz
www.interpipe.biz
Final partial redemption was conducted on January 26, 2021.
In October 2019 Interpipe announced about the successful completion of restructuring of the debt which was reinstated by means of a new issue of the Notes and several bank facilities that amounted to U.S.$400 million in total.
During 2020 Interpipe conducted several partial redemptions of the Notes, in particular: U.S.$98,500,000 in January, U.S.$97,000,000 in August, U.S.$32,400,000 in October and U.S.$74,819,932.09 in December. On January 26, 2021 Interpipe conducted the final partial redemption for U.S.$6,472,125.91. Moreover, earlier Interpipe also repaid U.S.$90.8 million under the bank facilities.
Denis Morozov, Interpipe's Chief Financial Officer:
Interpipe has successfully crossed this milestone having repaid the U.S.$400 million debt in advance of the contractual amortization schedule. Upon the debt restructuring completion the Company has been directing all available cash into repayment of its debts owed to creditors. As of today, Interpipe's financial position is sustainable and firm that allows us starting with a new page and focusing on the implementation of the Company's development strategy.
About Interpipe:
Interpipe is a Ukrainian industrial company, a producer of seamless pipes and railway wheels. Company's products are marketed in more than 80 countries all around the world via the network of sales offices, located at the key markets of the CIS, Middle East, North America, and Europe. In 2020, Interpipe sold 662 kt of finished goods, including 192 kt of railway products. The latter are marketed under the KLW brand.
Interpipe has 11 thousand people working at the Company's facilities. In 2019, the Company transferred UAH 3.25 bln in taxes to the budgets of all levels.
Contacts for the mass media:
Andrey Pisarevskiy
Press Officer
Phone: +380 44 233 66 53
Cell: +380 67 952 17 62
Andrey.Pisarevskiy@m.interpipe.biz
www.interpipe.biz
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INTERPIPE Nyzhnodniprovsky Tube-Rolling Plant PJSC published this content on 26 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 January 2021 18:19:04 UTC
