2012.02.20 | Russia’s MMK to offer 5 billion ruble exchange bonds on Feb 16Russia’s Magnitogorsk Iron and Steel Works, or MMK, plans to offer a 5 billion ruble 3–year exchange bond issue on February 16, it said in a bond prospectus Friday.
The indicative rate of the first coupon stands at 8.3%–8.5%, which corresponds to an annual yield to maturity of 8.47%–8.68%.
The bonds carry semiannual coupons and have an 18–month buyback offer.
UralSib is the organizer of the offering.
MMK, based in the Chelyabinsk Region city of Magnitogorsk, is Russia’s largest ferrous metals producer.
(29.6795 rubles– U.S. $1)
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