Rusal: Propose to Issue up to RUB60 Billion of Ruble Bonds
First Published Monday, 18th June 2012 01:30 am - © 2012 Dow Jones
By Yvonne Lee
HONG KONG--United Co. Rusal PLC (0486.HK) Monday said it is proposing to issue up to 30 billion rubles ($926.6 million) worth of ruble-denominated regular corporate bonds and up to RUB30 billion worth of ruble-denominated exchange-traded bonds.
The EuroNext- and Hong Kong-listed aluminum company said the regular bonds will have maturities of up to 10 years, and the exchange-traded bonds will have maturities of up to 3 years.
Proceeds will be used for general corporate purposes, including refinancing and the funding of capital expenditure, the company said in a statement.
In a separate statement, the company said executive director Alexander Livshits has resigned due to other commitments, effective Friday.
It said Mr. Livshits isn't in any disagreement with the board and that there is no other matter relating to his resignation that needs to be brought to the attention of shareholders.
Write to Yvonne Lee at firstname.lastname@example.org