Skip to content
Subscriber Only

Bombs Didn’t Stop This Ukrainian Steelmaker. Creditors Might

Updated on

Steelmaker Metinvest BV has withstood a year of shelling and mortar attacks that have hit almost all its facilities in eastern Ukraine. It’s now under siege by creditors from London and New York.

Bondholders who own about 1 percent of the company’s $3.1 billion in debt are demanding Metinvest pay more than $100 million that came due last month. The company, though, is running out of money as it struggles to keep foundries and mines open in the war-torn region of Ukraine called Donbas.