Metinvest buys time to restructure bonds

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By Virginia Furness
28 Jan 2016

Metinvest has swerved a default of its Eurobond due January 31 after bondholders voted to approve a waiver which will enable the issuer to restructure its debt without triggering a cross-default clause.

Bondholders of 92.49% of the nominal value of Metinvest’s Eurobonds voted to approve the resolution which will enforce a waiver of default up to May 27.

This will provide the company with a stable platform while it negotiates the restricting of its 2016s, 2017s and 2018s, according to ...

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