Concorde Capital Research: Interpipe to finish debt restructuring on Oct. 25

Ukraine’s largest pipe and railway wheel producer Interpipe (INPIP) announced on Oct. 18 that it expects to finish the restructuring of its debt on Oct. 25. Recall, Interpipe plans to issue a total of USD 309 mln of new Eurobonds with a 10.25% coupon and 3,086 units of performance securities in order to restructure its entire debt (the total principal of USD 1.17 bln as disclosed earlier). Dmytro Khoroshun: Interpipe’s debt restructuring will be the most sophisticated deal so far between a Ukrainian debtor and international creditors. Interpipe’s new Eurobond will allow for international investors diversifying their exposure to Ukrainian credit.

• Status
  redeemed
• Country of risk
  Ukraine
• Redemption (put/call option)
  *** (***)
• Amount
  200,000,000 USD
• М/S&P/F
  — / — / —

• Full name
  Interpipe Limited
• Industry
  Ferrous metals