Metinvest Navigates Debt Crisis Amid Ukrainian Conflict

Ukrainian steel giant Metinvest is assessing the issuance of new debt to cover an impending $430 million bond payment due in April, as disclosed by its CEO Yuriy Ryzhenkov to Reuters. The company, Ukraine's largest private, has faced substantial operational losses due to the ongoing conflict with Russia.

The firm has paused previous restructuring discussions for $1.25 billion of its debt, opting instead to explore alternative financial strategies. Ryzhenkov highlighted the significance of adapting to market feedback, especially after poultry giant MHP's successful international bond issue last month.

Metinvest is considering several options, including a potential bond issuance with flexible terms depending on market conditions, and is also exploring private debt deals or revisiting restructuring proposals. Despite challenges, Ryzhenkov remains optimistic about finding a viable resolution, either through market solutions or creditor agreements.