Companies

Corporates

Interpipe (INPIP)

Issuer Profile

Interpipe is a key player on the CIS and CEE pipe markets. The group is also the third-largest producer of rail wheels worldwide. Interpipe operates four pipe and rail wheel producing companies as well as numerous trading subsidiaries globally. The group is controlled by Ukrainian businessman Viktor Pinchuk, who also owns media, metallurgical and other businesses. Interpipe significantly strengthened its vertical integration with the launch of a 1.3 Mt p.a. greenfield electric steel mill in 2012.

Bond Information

Year2017
Market Price* ($)32.00
Market YTM*-
Spread over UST*-
Issue Volume ($m)200
Coupon Rate (% p.a.)10.25%
Coupon FrequencyS/A
Maturity Date8/2/2017
Ratings: Moody's/S&P/Fitch-/NR/WD

Note: *Based on bid price.

Memorandum Terms

Covenants
Payment of Taxes $25m
Financial Reports A - within 180 days; S/A - within 90 days
Max. consolidated Debt/Ebitda 4.5:1
Events of Default:  
Failure to pay 5 days
Cross default $20m
Expiry of license, illegality, insolvency etc.
Judgments $20m/60 days

Issuer Financials

Year2015E
Net Sales ($m)-
EBITDA ($m)-
Net Income ($m)-
EBIT Coverage Ratio (x)-
Net Debt/Equity (%)-

YTM

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