OREANDA-NEWS. May 31, 2010. Metinvest successfully sold its debut Eurobonds issue USD 500 ml worth with 10.25% coupon and YTM of the issue is 10.5%. The issue’s maturity date is May 20, 2015. The funds raised will be used to finance the further renewal and modernization of the company’s production assets.

The book volume has been substantially oversubscribed. Two thirds of the issue were bought by European investors, one third — by investors from the US. The bonds will be officially listed starting May, 20th.

“The demand for Metinvest’s bonds remained at sufficiently high level despite the situation emerging around Greece and sharply deteriorated global investment sentiments: the issue has been considerably oversubscribed”, – noted Sergiy Novikov, Metinvest’s CFO.     

BNP Paribas, Credit Suisse, ING, The Royal_Bank of Scotland plc and VTB Capital were mandated as joint lead managers and joint bookrunners for Metinvest’s debut USD Rule 144A/Reg. S issue.

Moody’s Investors Service assigned the future bond issue “(P)B3” rating in the end of April and Fitch assigned Metinvest’s planned note issue expected ’B-’ rating. The agencies also revised the CFR of the company: Moody’s upgraded the outlook of Metinvest “B2” from “stable” to “positive” and upgraded the national scale rating from “A2.ua” to "А1.ua", Fitch affirmed the CFR at “B-” stable.