RUSAL , Aluminium | 16 February 2011 г. | 11:00

Rusal approves final parameters of Ruble bond issue

Rusal approves final parameters of Ruble bond issue
UC Rusal announced approval of the Ruble bond issue by OJSC Rusal Bratsk (Issuer) and its key parameters by the Company's Board of Directors.

OJSC Rusal Krasnoyarsk and OJSC Rusal Achinsk (Sureties) will provide sureties for up to RUR30 billion and RUR12 billion respectively, to secure the payment obligations under the Issue. Additionally, Rusal will provide a guarantee towards bondholders in the form of irrevocable offer to purchase bonds to secure payment obligations in cases of Issuer and Sureties non-performance.

The final decision on the timing of the placement will be made by the Issuer subject to market conditions.

Rouble bond issue of up to RUR30 billion worth of corporate bonds (consisting of 2 series of RUR 15billion each) was registered on 20 May 2010 by the Federal Financial Markets Service of the Russian Federation. Both series (if issued) can be placed within one year of the date of registration with the FFMS.

Source: Metal Supply and Sale Magazine
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