Support The Moscow Times!

Severstal Offers $450M Bond

Severstal announced the launch of an offering for $450 million in senior unsecured convertible five-year bonds, the company said in a statement Wednesday.

The steel giant, controlled by billionaire Alexei Mordashov, said the bonds will be used to refinance its existing debt and other corporate purposes.

The bonds, converted into Global Depositary Receipts listed on the London Stock Exchange, are expected to carry a yield maturity between 2 and 2.5 percent per year.

(Reuters)

Related articles:

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.