OREANDA-NEWS. April 18, 2011. UC RUSAL (SEHK: 486, EuroNext: RUSAL/RUAL, MICEX: RUALR, RTS: RUAL), the world's largest aluminium producer, announces the closing on 14 April 2011 of the book with respect to Series 08 ruble bond issue, by OJSC RUSAL Bratsk for the amount totalling RUR 15 billion at a coupon rate of 8.5% p.a.

Despite the serious volatility on the financial markets in the recent days, the issue, along with the previous one by the Company,  has attracted a strong interest from investors. The overall demand for the bonds exceeded RUB 25 billion with over 50 orders received. Due to demand significantly exceeding the planned placement volume, RUSAL was able to lower the price guidance from the original 8.7-9.0 % to 8.4-8.7%. Finally, the book was closed nearly the lower end of the price range at a rate of 8.5%.

The issue by OJSC RUSAL Bratsk of ruble bonds Series 08 was registered by the Russian Federal Service for the Financial Markets on May 20, 2010. Series 08 is represented by 15 million of bonds with a par value of RUB 1,000 each. The tenor of the series 08  is ten years with the put option at four years. The coupon period is 182 days. Placement of the issue on MICEX is scheduled to commence on the 18 April 2011.

"The successful issue is clear confirmation of  a strong demand for RUSAL's bonds and illustrates a high level of confidence in the company from the investor community. Despite the short timeframe between the two bond issues and the recent market correction, our new offer has received a very positive reaction from investors resulting in a significant oversubscription. These issues mark the successful first phase of restructuring of the Company's debt for the total amount exceeding USD 1 billion dollars", said Oleg Mukhamedshin, Director of Financial Markets.