U.K.-based mining giant Evraz Group, which operates mainly in Russia, intends to spend U.S. $681.74 million to buy back bonds maturing in 2018 and 2020, the company said in a statement late on Monday.
Evraz will buy back $50.223 million worth of bonds maturing on April 24, 2018, $331.503 million worth of bonds maturing on April 27, 2018 and $300 million worth of bonds maturing on April 22, 2020.
The company earlier planned to pay $952.5 million to buy its Eurobonds of the three series maturing in 2018 and 2020. To finance the buy back program, Evraz will offer six-year $750 million Eurobonds. A source told PRIME that their yield stands at 5.375%. According to the latest information, demand for the issue exceeded $2 billion.