Metinvest Repays 2023 Bonds For USD 945 Million

Metinvest Group has announced the final payment for bonds in the amount of USD 944.5 million in full with maturity in 2023, which were issued in 2018.

This is stated in the message of the group, Ukrainian News Agency reports.

"Metinvest's 2023 repayment of bonds is a significant achievement in the conditions of war and an important event for corporate issuers associated with Ukraine. Despite the challenging conditions, the group has demonstrated its unwavering obligations to bondholders. This step indicates the reliability of Metinvest and the Group's prudent approach to liability management. In addition, the successful reduction of debt burden will improve Metinvest's financial flexibility in conditions of unpredictable war by reducing significant debt payments until 2025," said Yurii Ryzhenkov, Director General of Metinvest.

As Ukrainian News Agency earlier reported, Metinvest Group ended 2022 with a loss of USD 2.193 billion against the net profit of USD 4.765 billion for 2021.

In 2022, the group's revenue decreased 2.2 times, or by USD 9.7 billion, to USD 8.288 billion.

In 2022, compared to 2021, Metinvest Group reduced production of finished products by 2.6 times, or 4.456 million tons, to 2.777 million tons.

The main shareholders of Metinvest Group are SCM (71.24%) and Smart Holding Group (23.76%), which manage it as a partnership.

100% of SCM's shares are owned by businessman Rinat Akhmetov.