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Rusal gives some details of 30 billion ruble bonds; coupon to be set
By Toni Weeks
San Diego, July 5 - The United Co. Rusal plc announced that its indirect wholly owned subsidiary, OJSC Rusal Bratsk Aluminum Smelter, has approved some details about its planned issue of 30 billion ruble interest-bearing nonconvertible bearer ruble-denominated bonds.
The 30 billion ruble of notes will be comprised of four series: series 9 and 10 each for 10 billion rubles, and the series 11 and 12 bonds each with a size of 5 billion rubles.
The coupon will be determined either by an auction on the issue date or by book building prior to the issue date and semiannually after that.
The bonds will mature 10 years from the issue date. The principal amount will be repaid in full at maturity. The terms may provide for early repayment.
OJSC Rusal Krasnoyarsk Aluminum Smelter and OJSC Rusal Achinsk Alumina Refinery, both indirect wholly owned subsidiaries of the issuer, will guarantee the notes for up to 45 billion rubles.
Further details will be provided by the company when appropriate. The notes are subject to approval by the Federal Financial Markets Service.
Rusal is an aluminum company based in Moscow.
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