DATA PLATFORM FOR FINANCIAL MARKET PROFESSIONALS AND INVESTORS
  • High performance interface for global bond market screening
  • Full information on close to 400,000 bonds from 180 countries
  • 100% coverage of Eurobonds worldwide
  • Over 300 primary sources of prices
  • Ratings data from all international and local ratings agencies
  • Stock market data from 60 world trading floors
  • Intuitive, high speed user interface
  • Data access via the website, mobile application and add-in for Microsoft Excel

Concorde Capital Research: Interpipe noteholders consent to restructuring

August 29, 2019
Ukraine’s largest pipe producer Interpipe (INPIP) has successfully obtained consent from the proportion of the holders of its USD 200 mln note required for the restructuring of its USD 1.2 bln debt, the company announced on Aug. 28.

The consent solicitation was launched on Aug. 14 and required consent from holders of at least 75% of the notional amount of the note to be successful. The consent deadline was 10 a.m. London time on Aug. 28, extended for one day from the initially announced deadline. The same day, the resolution containing all provisions requested by Interpipe from the holders of its notes was executed.

Full implementation of Interpipe’s debt restructuring remains ongoing. The total notional amount of the new notes and the total number of performance securities, to be issued to the holders of existing notes and to other creditors, will be determined after Sept. 6. The effective record date for noteholders to receive the restructuring fee is expected to be Sept. 12, and the fees are expected to be paid on Sept. 19.

Dmytro Khoroshun: We expect Interpipe and its creditors to be successful in restructuring their relationship. This deal promises to be the most sophisticated so far between a Ukrainian debtor and international creditors.
  • Status
    redeemed
  • Country of risk
    Ukraine
  • Redemption (put/call option)
    *** (***)
  • Amount
    200,000,000 USD
  • М/S&P/F
    — / — / —
Company — Interpipe Limited
  • Full name
    Interpipe Limited
  • Industry
    Ferrous metals