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International bonds: Metinvest, 10.250% 31jan2016, USD (XS0511379066, 591555AA5)

StatusDefaultCountry of riskMaturity (option)
Amount i
This field shows outstanding face value amount for outstanding bonds
Issue ratings (M/S&P/F)
redeemedYesUkraine**/**/****89,790,936.04 USD***/***/***
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Yield calculation

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Issue information

BorrowerMetinvest
Bond typeCoupon bonds
Special typeLoan Participation Notes
Form of issueRegistered documentary bonds
Placement methodOpen subscription
RestructuringYes
Date of restructuring**/**/****
Information about restructuring***
Issue purposeShow
Issue purpose
The net proceeds to the Issuer from the offering of the Notes are estimated to be approximately U.S.$491,930,000 after deducting management and underwriting commissions but before the estimated offering expenses. The net proceeds from the issue of the Notes will be used primarily (i) to fund Metinvest’s capital expenditure programme and (ii) for general corporate purposes, including to repay existing outstanding indebtedness as it falls due and to fund selective acquisition opportunities.
Par amount, integral multiple1,000 USD
Nominal of international bonds1,000 USD
Minimum settlement amount790.05 USD
Outstanding principal amount0 USD
Amount500,000,000 USD
Amount Outstanding89,790,936.04 USD
Placement date**/**/****
Maturity date**/**/****
Exchanged intoMetinvest, 10.5% 28nov2017, USD, Metinvest, FRN 31dec2021, USD
Floating rateNo
Coupon Rate**.***%
Current coupon rate10.25%
Day count fraction***
Coupon frequency2 time(s) per year
Interest accrual date**/**/****
ListingIrish S.E.

Related issues

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Cbonds Valuation
i
Indicative bond and international bond quotes by Cbonds are calculated based on the methodology. The end result of the methodology is a single end-of-day Cbonds quote, which is based on bid and ask data of various trading floors and contributors working with this asset.
:

Trading floorDate and timeBid/ ask price (Yield)
Indicative price (Yield) i
Indicative price is used to calculate the effective yield, duration, modified duration and is calculated according to the following priority of prices: weighted average price (Average), market price (Market), closing price (Close), admitted price (Admitted), middle price (Mid), last price (Last). Indicative yield is calculated according to the following priority of yields: yield to maturity (effective), yield to put/call (effective), current yield.
G-spread
T-spread, bp i
T-spread is calculated as the difference between the issue yield and the yield on government securities of the USA, Great Britain and Germany in the corresponding issue currency and with comparable modified duration (the calculations are based on the effective yields only). The value is computed only for issues in USD, EUR, GBP.
CBONDS ESTIMATION
i
Indicative bond and international bond quotes by Cbonds are calculated based on the methodology described here http://ru.cbonds.com/organizations/docdownload/8715.
The end result of the methodology is a single end-of-day Cbonds quote, which is based on bid and ask data of various trading floors and contributors working with this asset.
Quotes are published both anonymously and publicly in the section Bond Quotes by Market Participants: http://cbonds.com/quotes/market/. These quotes are indicative only. Organizations posting the quotes have no obligations to conduct transactions at these prices. To learn the actual current prices, you need to contact the respective organization. Trading floor quotes are available at http://cbonds.com/quotes/.
03/20/2017*** / *** (*** / ***)*** (***)******Archive
CBONDS VALUATION
i
Cbonds Valuation Russia and CIS indicative international bond quotes are calculated based on the methodology described here http://ru.cbonds.com/organizations/docdownload/8599.

The end result of the methodology is a single end-of-day Cbonds quote, which is based on bid and ask data of various trading floors and contributors working with this asset.
12/23/2016*** / *** (*** / ***)*** (***)******Archive
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Bond classification

Subordinated
Sinkable bond
Perpetual
Convertible
Structured product
Restructuring
Securitization
Mortgage bonds
Trace-eligible
Covered
Foreign bonds
CDO
Sukuk
Retail bonds
Supranational bond issues
Green bonds
Non-Marketable Securities

Identifiers

ISIN / ISIN RegSXS0511379066
ISIN 144AUS591555AA54
Common Code / Common Code RegS051137906
Common Code 144A051137922
CUSIP 144A591555AA5
CFI / CFI RegSDYFXXR
CFI 144ADBFUGR
FIGI / FIGI RegSBBG0000W55D7
WKN / WKN RegSA0VTSP
WKN 144AA0VTSL
SEDOLB4PWKS6
FIGI 144ABBG0000TXC20
TickerMETINV 10.25 03/31/17 REGS

Primary placement

Issuer rating on issue date (M/S&P/F)***/***/***
Placement**/**/****
Initial issue price (yield)**.***% (**.*%)
Spread over US Treasuries, bp***.*
Spread over mid-swaps, bp***.**
Geographic breakdownEurope - **%, USA - **%, other - *%
Investor breakdownasset managers - **%, banks - **%, hedge funds - **%, pension funds - *%, other - *%

Participants

Bookrunner: VTB Capital, BNP Paribas, Credit Suisse, ING Bank (London Branch), RBS
Co-manager: Sberbank, Sberbank Asset Management
Issuer Legal Adviser (International law): Baker McKenzie
Issuer Legal Adviser (Domestic law): Baker McKenzie
Issuer Legal Adviser (Listing law): Baker McKenzie
Arranger Legal Adviser (International law): Linklaters
Arranger Legal Adviser (Listing law): Linklaters
Arranger Legal Adviser (Domestic law): Sayenko Kharenko
Additional information
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Payment schedule

*****

Coupon dateCoupon, %Coupon payment amount, USDPool factorRedemption of principal, USD
Show previous
1**/**/******.****.******
2**/**/******.****.******
3**/**/******.****.******
4**/**/******.****.******
5**/**/******.****.******
6**/**/******.****.******
7**/**/******.****.******
8**/**/******.****.******
9**/**/******.****.******
10**/**/******.****.******
11**/**/******.***.******.********
12**/**/******.****.******.*****
13**/**/******.****.********.**
Show following
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Debt Servicing

Default typeLiability typeAnnouncement DatePlanned date of meeting liabilitiesActual payment dateGrace period expiration dateDefault ReasonAdditional information
DefaultCovenant**.**.*****.**.*****.**.*****.**.***Bankruptcy***********
DefaultRedemption**.**.*****.**.*****.**.*****.**.***Bankruptcy***********
DefaultCoupon**.**.*****.**.*****.**.*****.**.***Unknown***********

Early redemption terms

*****

DateOption typePriceRepurchased amount at par, mlnAdditional information
Show previous
**/**/****call******.**Exchange into XS1145219652; In exchange for every $1000 of existing bonds, participating bondholders will receive $250 cash and $750 of amortising notes with a 10.5% coupon;
**/**/****debt repurchase**.**
**/**/****debt repurchase**.**exchanged into Regs XS1571247656, 144A XS1571247490
Show following
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Issue ratings

Metinvest, 10.250% 31jan2016, USD

Rating AgencyRating / OutlookScaleDate
Fitch Ratings***/***LT Int. Scale (foreign curr.)05/20/2015
Moody's Investors Service ***/***LT- foreign currency03/23/2017
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Issuer ratings

Metinvest

Rating AgencyRating / OutlookScaleDate
Fitch Ratings***/***National Scale (Ukraine)04/10/2019
Fitch Ratings***/***LT Int. Scale (local curr.)04/10/2019
Fitch Ratings***/***LT Int. Scale (foreign curr.)04/10/2019
Moody's Investors Service ***/***National Scale (Ukraine)03/23/2017
Moody's Investors Service ***/***LT- foreign currency12/27/2018
S&P Global Ratings***/***Foreign Currency LT01/29/2019
S&P Global Ratings***/***Local Currency LT01/29/2019
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Main IFRS/US GAAP indicators

Index 1Q 2018 2Q 2018 3Q 2018 4Q 2018
11Total assets (mln, USD) *** *** *** ***
20Total equity (mln, USD) *** *** *** ***
23Revenue (mln, USD) *** *** *** ***
36EBITDA (mln, USD) *** *** *** ***
35Net debt (mln, USD) *** *** *** ***
40Capital expenditure (mln, USD) *** *** *** ***
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Calculated IFRS/US GAAP indicators

Index 1Q 2018 2Q 2018 3Q 2018 4Q 2018
71Revenues, YoY (%) *** *** *** ***
72EBITDA, YoY (%) *** *** *** ***
73EBITDA margin (%) *** *** *** ***
74Net debt / EBITDA *** *** *** ***
75Total debt / Equity *** *** *** ***
76Cash Flow To Capital Expenditures *** *** *** ***
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All IFRS indicators

year 1 Q 2 Q 3 Q 4 Q
2019 - -
2018 - 2Q - 4Q
2017 - 2Q - 4Q
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Consolidated IFRS reports

year 1 Q 2 Q 3 Q 4 Q
2019
2018
1.15 M nat
1.15 M eng
2.06 M nat
2.06 M eng
2017
0.51 M nat
0.51 M eng
1.62 M nat
1.62 M eng
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Annual reports

year national english
2018
2017
4.54 M nat
4.54 M eng
2016
4.82 M nat
4.82 M eng
2015
2014
2.82 M nat
2.82 M eng
2013
4.41 M nat
4.41 M eng
2012
5.83 M nat
5.83 M eng
2011
2010
2009
2008
2007
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