EVRAZ plc (the Company) announced today that its indirect subsidiary, EVRAZ Inc. NA Canada (the Issuer), gave the notice to redeem on May 26, 2017 (“Redemption Date) a portion of its 7.5% Senior Secured Notes due 2019 (the “Notes”) equal in aggregate principal amount to $345,000,000, pursuant to Section 3.07(b) of the Notes indenture. The redemption price will be equal to 103.750% of the principal amount of the Notes redeemed plus the accrued and unpaid interest up to, but excluding, the Redemption Date.
The Issuer intends to redeem the remaining part of Notes under a separate notice within the second quarter of 2017.
This transaction is a further step towards gradual reduction of existing indebtedness, as well as reduction of interest payments, and is fully in line with our strategic focus on deleveraging.
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