OAO Severstal one of the world leading steel and steel related mining companies announces that the Board of Directors has approved the launch of a Russian Ruble bond program which provides the Company with the potential to issue up to RUB 80 billion.

The launch of this program is a technical procedure to facilitate Severstal potential access to debt capital markets and would be primarily used to refinance the Company’s debt portfolio. Severstal launched a similar bond programme in 2009 with the potential to issue up to RUB 45 billion.

Source - OAO Severstal

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