Metinvest Bondholders Tap Lawyer Cleary Gottlieb for Debt Talks

A group of bondholders of Metinvest B.V., the Ukrainian steel and mining firm, has started working with lawyer Cleary Gottlieb Steen & Hamilton LLP, according to people familiar with the matter.

The creditors came together as the firm, owned by billionaire Rinat Akhmetov, is getting ready to present a proposal to extend its $428 million note due next year.

Metinvest declined to comment. Cleary Gottlieb Steen & Hamilton did not respond to a request for comment.

Metinvest managed to repay around $670 million of debt since Russia’s full-scale invasion of Ukraine began in 2022. The firm’s main focus now ...