21
Mar
15:52
Severstal awaits bond payment clearance to avoid default
Russian vertically integrated steelmaker Severstal, which has fallen under EU financial sanctions through its majority shareholder Alexey Mordashov, has until 23 March to have its overdue Eurobond coupon payment accepted and avoid technical default.
Bondholders can wait until 24 March, when the five-day grace period ends, before applying for forced bankruptcy in order to obtain funds for due repayment. This would include any assets – including stee…
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Anonymous
Very good overview of the weekly steel market.
Anonymous