Severstal Board Approves Russian Ruble Bond Programme
OREANDA-NEWS. June 22, 2012. Severstal (‘Severstal’ or the ‘Company), one of the world’s leading steel and steel related mining companies, announces that the Board of Directors has approved the launch of a Russian Ruble bond programme which provides the Company with the potential to issue up to RUB 80 billion. The launch of this programme is a technical procedure to facilitate Severstal’s potential access to debt capital markets and would be primarily used to refinance the Company’s debt portfolio. Severstal launched a similar bond programme in 2009 with the potential to issue up to RUB 45 billion.