Reuters reported that Russian coking coal miner Raspadskaya has chosen Morgan Stanley, Goldman Sachs and VTB Capital to arrange a planned Eurobond issue.

A source close to the deal told Reuters that "The company needs to refinance an outstanding Eurobond issue worth USD 300 million, which is due in May.”

Raspadskaya is following in the footsteps of Russia's top lender Sberbank and state development bank VEB which reopened Eurobond deals for local borrowers last week, raising USD 2.5 billion in still tough market conditions.

Raspadskaya said on Monday it had completed its offer to buy back up to 10% of its shares, spending around USD 400 million.

(Soured from Reuters)