OREANDA-NEWS. November 9, 2010. Interpipe has settled its outstanding obligations under USD 200 million Eurobonds in respect to the interest in the amount of USD 17.5 million as well as paying a one-time consent fee to Noteholders, who supported the terms of Eurobonds restructuring.

As reported earlier, Interpipe Limited has gained approval for restructuring of the terms and conditions of USD  200 million Eurobonds at the Noteholders meeting on September 17, 2010. The decision was dully passed by the affirmative vote of the requisite majority of Noteholders.

The Noteholders, inter alia, have consented to extend the maturity of the Notes to 2017, increase the interest rate to 10.25% and defer payment of unpaid interest in the amount of USD 17.5 million to October 31, 2010.

The company’s bonds were floated at Euro MTF Market Luxembourg Stock Exchange in July 2007.