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Metinvest paid $1.45 mln of bonuses for notes under restructuring due in 2016-2018

Metinvest paid $1.45 mln of bonuses for notes under restructuring due in 2016-2018Metinvest mining and metal group has paid $1.45 million under the additional scheme consideration for notes under restructuring due in 2016-2018.

The company said on the website of the Irish Stock Exchange (ISE), the sum was accrued for noteholes who gave their consent to the company's additional scheme consideration: 1.25% of the face value of the notes they hold.

Some $109,000 was paid for notes due in 2016, $370,200 for notes due in 2017 and $971,500 for notes due in 2018.

The company said that the payments were settled as of April 1, 2016.

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Metinvest at the end of December 2015 appealed to the holders of its eurobonds to endorse the introduction until May 27, 2016 of a moratorium on any payments on the securities. During the validity of the moratorium the company intends to achieve an agreement on the restructuring of these eurobonds, as well as pre-export financing in the amount of $1.089 billion.

The noteholders at a meeting on January 27, 2016 approved a temporary notes payment moratorium.
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