Novolipetsk Steel (LSE: NLMK), a leading Russian steel company, is pleased to announce that its Board of Directors approved a decision to launch its ruble bond program. The total value of the bond program that will be traded on the Russian debt market is RUR50 billion.
More detailed information regarding loan structure and the financial position of NLMK can be found in the admission documents and information materials relating to the bond program, which will be uploaded onto the websitewww.nlmk.com
before the issue of the bond program.
Proceeds from the placement of the bonds will be used to refinance short-term debt of the Company and other corporate purposes.
About the company.
Novolipetsk Steel (LSE: NLMK) is one of the world’s leading producers of steel, with 2008 revenue exceeding USD11 billion, output over 10.5 million tonnes. The key production facilities located in Russia, the EU and USA employ over 70,000 people.
The company produces a wide range of steel products, including slabs and billets, hot-rolled, cold-rolled, galvanized and electrical steel and other high value added products. In 2008 NLMK delivered its products to customers from 70 countries.
NLMK shares are traded in Russia on MICEX and RTS, and GDRs – on the London Stock Exchange.