Evraz accepts tenders for $166.18 million Raspadskaya notes in offer

By Susanna Moon

Chicago, Nov. 9 – Evraz plc said it accepted for purchase tenders for $166,182,000 notes due 2017 issued by Raspadskaya Securities Ltd.

The purchase price will be par plus accrued interest.

The tender offer ended at noon ET on Nov. 6, and the company’s subsidiary Evraz Group SA began the offer Oct. 29.

After settlement, the company will hold $214,482,000 of the notes, or 53.6% of the total principal amount of notes outstanding, according to a company notice.

The company said it does not intend to cancel the notes immediately after completion of the offer.

Funding for the offer will come from the RUB 30 billion five-year credit facility due in 2020, which was signed with PAO Bank VTB.

Evraz is a London-based steel, mining and vanadium company with operations in Russia, Ukraine, Kazakhstan, USA, Canada, Czech Republic, Italy and South Africa.

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