Metinvest sales, production not affected by bond payment default

Sales and production at Metinvest were not affected by the company’s default on $113 million of bond principal payments disclosed last week.

It is now in talks with its lenders about restructuring its debt portfolio, it said.
Metinvest, Ukraine’s largest steelmaker and exporter, “is continuing to accept orders and is shipping products as usual” while its “enterprises are operating as usual”, head of sales Dmitriy Nikolayenko wrote in a letter to customers which was seen by Steel First.



Nadia Popova

April 17, 2015

19:21 GMT