On 11 October, 2012 Supervisory Board of AK ALROSA intends to take decision pertaining to placement of commercial paper series BO-01 and BO-12, according to the company’s statement cited by Prime news agency.
Within the scope of the upcoming meeting in absentia Supervisory Board is to examine the opportunity of signing a contract with CJSC VTB Kapital on administration of debenture issue.
More over, Supervisory Board of AK ALROSA shall bring decision on inclusion of the issue on loan agreement with VTB bank to the agenda of the Shareholders Meeting, as well as develop options for definition of interest rates for the loan.
Previously ALROSA reported its intent to refinance about $1.3 – 1.4 billion worth of debts, the total volume of payments scheduled in 2012 being $1.709 billion.
The diamond mining company plans refinancing of short-term debts with bank loans and public debt instruments, particularly, it will consider issue of ruble bonds and drawing long-term bank loans in US Dollars.
The company’s total debt load is valued at $4.319 billion as of October, 2012, the average interest rate being 6.27%.
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