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ALROSA

June 26, 2003

ALROSA pays off debts to 14 banks

On May 6, 2003ALROSA Co. Ltd. successfully placed its $500 million 5-year Eurobond issued by ALROSA Finance S. A. (Luxemburg). Total net proceeds from the Issue amounted to $494 980 000.

 

As was planned, the proceeds have been channelled to repay ALROSA’s short and medium-term debts to Russian and international banks.

 

From May 7 to June 16 ALROSA repaid loans to 14 banks, as well as paid off the sixth and seventh issues of its Ruble-denominated bond. The total amount repaid by ALROSA was $491 480 000.

 

 

 

 

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