Azovstal redeems five-year $175 million eurobond

The Ukrainian mining and steel producing company Metinvest Holding  has announced that its subsidiary Azovstal Iron and Steel Works (Azovstal), the second largest Ukrainian steel producer, has made the last coupon payment and redeemed 100 percent of its five-year US dollar-denominated debut eurobond issue on February 28, 2011.
 
The $175 million issue with a coupon of 9.125 percent was placed on February 28, 2006. ING Bank N.V. and Moscow Narodny Bank Limited (currently known as VTB Capital plc) acted as the joint lead managers of the issue.