Source Pravda.Ru

Magnitogorsk Metal Works issues Eurobonds

The Magnitorgorsk Metal Works (MMK, Magnitogorsk, Chelyabinsk region) issued three-year Eurobonds worth Euro 100m with a 10% coupon. Among the co-managers were: the Bank of Moscow, Zenit bank, Caboto Gruppo Intesa, Eurofinance, Gazprombank, IBG NIKoil, Moscow People's Bank, MPS Finance B.M. SpA, Rosbank, UniCredit Banca Mobiliare and Landesbank Girozentrale (West Germany).

An MMK spokesman reported in an interview with RosBusinessConsulting that the Moody's Investors Service international rating agency had determined the foreign currency ceiling at B1 and local currency ceiling - at Ba3. The rating outlook is "stable."

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