Interfax reported that Donetskstal Metallurgical Plant has completed a comprehensive international restructuring of debt totaling USD 820 million that includes all its financial creditors, including international banks, Ukrainian banks, and bond holders.
Donetskstal said “The completion of the restructuring process strengthens the company's competitive position and creates a sturdy financial foundation, which will allow it to focus on its strategic goals.”
The coordinating committee for the restructure included SMBC, ING Bank Amsterdam (Ukraine), Unicredit Bank AG Munich (Ukraine), BNP Paribas, Raiffesen Bank International AG, and Citibank" (Ukraine). In all, more than 35 financial organizations, including creditors of other members of the Donetskstal group, were involved in the restructuring of more than 35 credit agreements and bond issues.
At the beginning of last year, Donetskstal reached agreement on restructuring public and private debts combining to $850 million. The restructure was done under the management of investment company Investment Capital of Ukraine, and was completed last November.
CJSC Donetskstal - Metallurgical Plant was created at the production facilities of Donetsk Metallurgical Plant (OJSC DMZ) and specializes in the production of metal products and commodity coke.
(Sourced from Interfax)
Donetskstal said “The completion of the restructuring process strengthens the company's competitive position and creates a sturdy financial foundation, which will allow it to focus on its strategic goals.”
The coordinating committee for the restructure included SMBC, ING Bank Amsterdam (Ukraine), Unicredit Bank AG Munich (Ukraine), BNP Paribas, Raiffesen Bank International AG, and Citibank" (Ukraine). In all, more than 35 financial organizations, including creditors of other members of the Donetskstal group, were involved in the restructuring of more than 35 credit agreements and bond issues.
At the beginning of last year, Donetskstal reached agreement on restructuring public and private debts combining to $850 million. The restructure was done under the management of investment company Investment Capital of Ukraine, and was completed last November.
CJSC Donetskstal - Metallurgical Plant was created at the production facilities of Donetsk Metallurgical Plant (OJSC DMZ) and specializes in the production of metal products and commodity coke.
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