The Board of Directors of NLMK Group, an international steelmaking company with operations in Russia, the USA and EU member states has confirmed the terms for a new multiple currency perpetual bonds issue programme at a meeting on October 28th.

The total permissible loan value of the issue has been set at 200 billion rubles, or the equivalent value in a foreign currency. The maximum maturity term of any issue within the programme was set at 30 years.
Grigory Fedorishin, NLMK Group CFO, said:

“The offering of a perpetual bonds issue provides us with the opportunity to generate funds on the local loan market, should it be required, as well as giving us additional flexibility on the amount and term of borrowing. It should be noted that at the present time, NLMK enjoys a good level of financial stability and is not planning to attract any borrowing in the near future.”

The NLMK Board of Directors also approved a number of related party transactions.