Russia's MMK to offer $500 mln of replacement bonds

MOSCOW, Oct 20 (PRIME) -- Magnitogorsk Iron and Steel Works (MMK) will offer U.S. $500 million of replacement bonds with maturity in 2024, the company said in a statement on Thursday.

The terms of the issue are the same as of the Eurobonds placed by ММК International Capital DAC at a coupon rate of 4.375% annually.

The new Eurobond issue is to be paid for by cession of property and other rights on the original issue. Early maturity is not envisaged.

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