OREANDA-NEWS. December 5, 2007. ESTAR Group (Electric Steel of Russia) has launched an LPN offering worth $150 mln, Denis Gaevsky, managing director of the transaction manager – Bank of Moscow (RTS Board code: MMBM) – informed Interfax-AFI.

“Today is the second day of the road show. If there is demand, we’ll close the deal before the end of the year, if not - we’ll postpone it”, said Gaevsky.

He also noted that the expected yield of the issue is 12% p.a.

According to Gaevsky, the circulation period of the notes is 3 years with a 2-year put option.

“We introduce them (the ESTAR Group – note by INTERFAX-AFI) on the international market”, said D.Gaevsky and noted that this issue was a debut for ESTAR on the international capital market.