Kemerovo Koks exchanging 2016 Eurobonds for $65 mln in new bonds maturing in 2018
MOSCOW. March 16 (Interfax) - Coke and merchant pig iron producer Kemerovo Koks , whose parent company is industrial Metallurgical Holding Management Company (IMH), will place $64.8 million in new 10.75% Eurobonds maturing in December 2018, the company said in a statement.
The new paper is being exchanged for $64.8 million in 7.75% bonds maturing in 2016.
The company will also pay a premium of $7.1 million to bond holders consenting to the swap.
Then deal is being organized by Gazprombank , Renaissance Capital and Sberbank CIB.
Koks originally placed $350 million in 2016 bonds and refinanced some of them in a similar arrangement last year, when bond holders tendered $151 million. The company issued $136.5 million in new paper at 10.6%, maturing in December 2018.
Upon completion of the second refinancing deal, Koks will have $134.3 million of the 2016 bonds outstanding.
