Metalloinvest Holding Co. plans to curb debt after Russia’s largest iron-ore producer redeems $700 million of Eurobonds that mature in July.
“We plan to cut debt in absolute figures,” Chief Financial Officer Pavel Mitrofanov said in an interview in Moscow. The company controlled by billionaire Alisher Usmanov is weighing options regarding the Eurobond, but so far sees paying them back as preferable to refinancing, he said, adding that the miner already has sufficient funds to do it. That would cut debt to $3.7 billion from $4.4 billion at Dec. 31.
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