Last checked at 29 May 2014 18:00
Early redemption of all of ezzsteel's outstanding bond programme
Cairo, 29 May 2014 - ezzsteel (EGX: ESRS; London Stock Exchange: AEZD), the largest independent producer of steel in the MENA region and market leader in Egypt, today announced the early redemption of 4.4 mn bonds, amounting to EGP 440 mn, representing the total outstanding value of its bond programme. This consists of:
1. The repayment of EGP 220 mn of principle, representing 2.2 mn bonds, that was due on 30/6/2014.
2. The early repayment of EGP 220 mn of principle, representing 2.2 mn bonds, that was due on 31/12/2014. This will also now be paid on 30/6/2014.
For further information:
ezzsteel | Tel | Mobile |
Kamel Galal | + 20 2 3762 2144 | + 20 10 539 5499 |
Capital MSL | ||
Nick Bastin | + 44 20 3219 8814 | + 44 7931 500 066 |
Richard Gotla | +44 20 3219 8819 | +44 7904 122 207 |
About Ezzsteel
ezzsteel (formerly: Al Ezz Steel Rebars) is the largest independent steel producer in the Middle East and North Africa, and the Egyptian market leader, with a total actual capacity of 5.8 million tonnes of finished steel.
In 2013, the Company produced 3.7 million tonnes of long products (typically used in construction) and 990 thousand tonnes of flat products (typically used in consumer / industrial goods). ezzsteel deploys the latest in modern steel-making technology and is committed to further increasing vertical integration across its plants, to boost operational flexibility.