18th Mar 2019 12:22
LONDON (Alliance News) - Miner and steelmaker Evraz PLC on Monday launched a tender offer to repurchase USD1.00 billion in 6.50% notes due April 2020.
The company said that USD700.0 million of the notes are currently outstanding. It offered USD1,037.50 per USD1,000 in principal amount of the notes.
The notes re-acquired will be cancelled.
"The purpose of the tender offer is to acquire any and all of the outstanding notes that, provided that the financing condition is satisfied, will be funded by the issuance of the new notes in order to extend the maturity of a portion of the group's indebtedness," Evraz explained.
Evraz shares were trading up 0.6% at 622.00 pence each.
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Evraz