Severstal Board approves Russian Ruble bond programme
21.06.2012
OAO 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.