Despite the warning of Fitch, NLMK wants to attract an additional 10 billion rubles

Today it became known that the Russian group of NLMK successfully completed the acceptance of applications for the purchase of exchange bonds of the Bo-11 and Bo-12 with a nominal volume of 5 billion rubles and a deadline for 10 years each. Under the conditions for the placement of exchange bonds, they can be bought out no earlier than three years from the date of start of placement.

The placement of bonds of the Bo-11 series by open subscription on the Russian Stock Exchange MICEX starts on August 1, 2013, and the Bo-12-August 6, 2013 series. According to the results of marketing, the profitability of bonds will be at the level of 8 percent. During marketing bidding, 90 applications were received from investors, of which, taking into account the market situation, the price of placement and the current demand, NLMK accepted only 42.

Funds received during the placement of a bond loan are planned to be directed to general core. The hostage organizers are Gazprombank, VTB Capital and Sberbank Kib.

Recall that the Fitch International Rating Agency was confirmed by NLMK rating at the BBB level, with a negative forecast caused by an unsatisfactory coefficient of equity of equity and attracted (borrowed) funds. An additional loan will worsen the Lever of NLMK even more.