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.
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