Evraz to borrow 15 bln roubles
Edited by Rhod Mackenzie / 2016-03-21 02:44:40
Evraz has determined the coupon rate at 12.6$ per annum by 5-year bonds for 15 bln rubles (about $219 mln).
The issuer of bonds will be Evraz Holding Finance, affiliate of Evraz. The bid book was open until March 18th. The completion of the deal is expected on March 29th 2016. The organizers of the issue are Sberbank CIB, VTB and Rosselkhozbank.
The funds from the deal will be directed for the refinancing of the current debt. The total amount of the debt is not taken into account, is reported.
In 2015 Evraz reduced steel making by 8% to 14.3 mln tons.
The group ended 2015 with a net loss of $719 mln. The company’s net debt as of the end of 2015 made up $5.3 bln.
