Source Pravda.Ru

Severstal to make loan bond issue

The Board of Directors of Severstal has decided to make the first loan bond issue totaling 3bn rubles ($94.8m), the press service of the company reported. Some 3m documentary unconvertible bonds with a compulsory centralized storing and a par value 1,000 rubles ($31.6) will be placed on the MICEX. The loan to be redeemed on the 1456th day after the placement. The issue envisages eight coupon periods. The interest rate of the first coupon period is to be set at an auction.

The raised funds are to be used partially to finance the company's investment program.

The investment plan for 2003 is worth 7bn rubles ($221m) and it includes the modernization and repair of the company's current production facilities and the construction of new facilities.

In January 2003, Severstal increased steel production to 839.400 tons, which was a 9.9 percent advance compared to the corresponding period of 2002.

© &to=http://www.rbc.com' target=_blank>RBC

Comments
Kremlin wants foreign invaders out of Syria
Kremlin on failed nuclear missile tests: 'Listen to President Putin and believe him!'
What may happen to foreign tourists traveling for 2018 World Cup in Russia
Kremlin on failed nuclear missile tests: 'Listen to President Putin and believe him!'
Russian special services detain Hizb ut-Tahrir members in Crimea
Russian special services detain Hizb ut-Tahrir members in Crimea
Foreign Ministry official explains why Russia had to sell Alaska to US
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
Just Words on Scraps of Paper
Just Words on Scraps of Paper
SWIFT refuses to cut Russia off, even if Washington insists
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
Russia introduces new money for the first time in eight years
Russians massively break traffic rules on Crimea Bridge
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
The Royal Wedding and the Silly Season
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
Kremlin on failed nuclear missile tests: 'Listen to President Putin and believe him!'
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
Science Has Once Again Declared: ‘We Were Created’
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea