27th Mar 2019 08:30
LONDON (Alliance News) - Russian steelmaker Evraz PLC said on Wednesday some 83% of its note holders have accepted its tender offer.
Evraz earlier in March had said it would offer to buy the outstanding USD700 million of its 6.50% notes due in April 2020. It is paying USD1,038 per USD1,000 in principal amount of the notes.
On Wednesday, Evraz said note holders covering USD580.5 million have accepted the tender, meaning USD119.5 million is outstanding.
In a separate announcement Wednesday, Evraz priced a new USD700 million note issue with a coupon of 5.25%. This note, maturing April 2024, will help finance the tender offer.
Shares were 0.5% higher on Wednesday at a price of 613.40 pence each.
Related Shares:
Evraz