NLMK issues bonds
NLMK (LSE: NLMK), a leading Russian steel company, is pleased to announce that its Board of Directors has approved the decision to launch the ruble corporate bond program series 07-11 with a maturity of 10 years. The total value of the program is RUR50 billion. The Board has also approved the Decision to issue the bonds and the Prospectus of the 07-11 series bond emission.
The new issue is being lead-managed by Gazprombank, ZENIT Bank and ROSBANK.
This new instrument will help NLMK to attract long-term capital if required to finance projects such as its Technical Upgrade Program, as well as for other corporate purposes.
In addition, the Board has approved a number of related party transactions that had occurred in the normal course of business, as well as determined NLMK’s auditor remuneration.