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 the company:
Interpipe is global producer of steel pipes and railway wheels, based in Ukraine. The company’s products are marketed in more than 80 countries all around the world via the network of sales offices located in key markets of Ukraine, Europe, North America and the Middle East. In 2020, Interpipe supplied 662 kt of finished goods, including 192 kt of railway products.
Interpipe has 11 thousand people working at the company’s facilities. During 2020 the Company transferred UAH 2.54bln in taxes to budgets of all levels and extra-budgetary funds.