KIEV, Jan. 15 - Holders of eurobonds for Ukraine's Interpipe have agreed to reduce covenant obligations while keeping the issue's coupon rate at 8.75%, the company told Interfax correcting earlier information indicating a rate increase.

Interpipe said that at a meeting held in January, the majority of eurobonds holders voted to raise the permissible debt to EBITDA ratio from 3.5 to 4.5, as well as exclude $344 million loan singed by the company in 2008 from the total debt. The loan was secured by SACE (Italy's export credit agency) for the construction of new electric smelter project.