OREANDA-NEWS. On 16 January 2009 was announced, that holders of Interpipe wheels and pipes company Eurobonds agreed to ease its obligations (covenants), while the coupon yield stayed at 8.75% p.a.

At its general meeting the Eurobonds holders agreed to increase the allowed "debt/EBITDA” from 3.5 to 4.5 and to exclude from the total debt USD 344 mn of loan taken by the company in April 2008.

Interpipe announced about it intention to ease the covenants December 10, 2008. At the same time, the company informed that Millen Financial Ltd. owed by Interpipe shareholders announced about offer to redeem the entire issue of Eurobonds at the price within 47-55% of the nominal value.