Metinvest BV offered to purchase up to US$440 million of its outstanding US$944.5 million senior notes due 2023.
The company said Sept. 17 that the purpose of the offering is to proactively manage the redemption of its debt, extend its debt maturity profile and lower refinancing risks.
Metinvest plans to issue euro- and U.S. dollar-denominated fixed rate senior unsecured notes to pay the total consideration for the offer as well as transaction costs in connection with the offer and issue of the new notes.
The offer is slated to expire Oct. 15. The pricing of the new notes is expected soon after the early tender deadline of Sept. 30.
In April 2018, Metinvest completed the refinancing of US$2.27 billion of debt in what the company called the largest-ever refinancing by a Ukrainian corporate.
