ALROSA issues Eurobonds for $500m

The Russian diamond giant ALROSA issued Eurobonds for $500m instead of the earlier planned $300m on April 29. RBC received this information from ING Bank that acted as the organizer of the issue.

The yield of the Eurobonds was close to the lower limit set by ALROSA. The Eurobonds were issued for five years and will be redeemed on May 6, 2008. The coupon rate of the Eurobonds will be 8.1258 percent a year. The source in the bank noted that the issue was carried out by Alrosa Finance S.A (Luxemburg), a subsidiary of ALROSA.

Earlier, the Moody's rating agency granted B3 rating to the planned issue of ALROSA's Eurobonds.

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