10th Jun 2016 10:10
LONDON (Alliance News) - Evraz Group SA, a subsidiary of steel-making and mining company Evraz PLC, on Friday said it has priced a USD500 million note issue.
The notes will mature in January 2022. They have a coupon rate of 6.8% per year were priced at par, giving a 6.8% yield.
Evraz Group intends to use the proceeds to refinance existing debt, including financing of purchases of notes to complete its tender offers.
The closing and settlement are expected to be completed next Thursday.
Shares in Evraz were trading down 5.0% at 125.40 pence on Friday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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