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Novolipetsk Steel

March 5, 2010

NLMK to issue 10 year bonds with the total value of RUR50 billion

Novolipetsk Steel (LSE: NLMK), a leading Russian steel company, is pleased to announce that its Board of Directors has approved a decision to launch the ruble corporate bond program series 01-06 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 01-06 series bond emission.

This new instrument will help NLMK to attract long-term capital to finance its Technical Upgrade Program, as well as other corporate purposes.

In late 2009 the company issued two exchange-traded bonds issues series 01 and 05 for a total amount of RUR15 billion. Those two issues were placed as a part of NLMK’s previously registered program with the total value of RUR50 billion. On the 9th of March 2010, the company is placing additional issue of exchange-traded bonds series 06 with the total value of RUR10 billion. Proceeds from the placement of this issue will be used to refinance short term bank loans. The main goal, which was to optimize the Company’s debt portfolio, after the placement of the exchange-traded bonds series 06 will be successfully accomplished.

The ten-year corporate bonds program will become the key instrument for the Group when attracting the capital in the domestic debt market.

The new issue is lead-managed by Rosbank, VTB and Raiffeisen Bank.

 

 

 

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