Aluminum producer, United Company RUSAL, is planning to issue $1 billion of Ruble-denominated bonds, The Moscow Times reports. The company will accept bids for the first $500 million bond installment until March 1, 2011 and list it on the Moscow Interbank Currency Exchange on March 3, 2011.

The bonds are expected to have a coupon rate of 9-9.5% and a put option after no less than three years. The Russian company is seeking to refinance about $5 billion of debt in 2011.

Click here for the story from The Moscow Times.