MOSCOW, RUSSIA / ACCESSWIRE / July 16, 2021 / Mechel PAO (NYSE: MTL, MOEX: MTLR), a leading Russian mining and metals company, reports discharging all obligations regarding the company’s public debt.
Mechel reports that the company has fully repaid its 04 series bonds as earlier scheduled. The company has thus completed discharging all obligations it assumed regarding bond series restructured in 2015-2016.
In 2015-2016, bondholders approved restructuring of obligations on bonds of the 04, 13, 14, 17, 18 and 19 series with nominal value totaling 30 billion rubles, renouncing the right to demand advance redemption. The repaid coupon yield for these series totaled 24.9 billion rubles with interest rates of 8% to 19%.
“We have completely fulfilled all of our public debt obligations and are grateful to Mechel PAO’s bondholders who reached out to us in our time of need and agreed to restructuring terms that were acceptable to the company,” Mechel PAO’s Chief Executive Officer Oleg Korzhov commented..
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Mechel is an international mining and steel company. Its products are marketed in Europe, Asia, North and South America, Africa. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, heat and electric power. All of its enterprises work in a single production chain, from raw materials to high value-added products.
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the U.S. Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions.
SOURCE: PJSC Mechel
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