Evraz to pay premiums of 3.7%, 2.4% for $700 mln, $800 mln Eurobond issues
MOSCOW. Oct 25 (Interfax) - Evraz Group will pay premiums of 3.7% and 2.4% for the early redemption of Eurobonds remaining in circulation from issues totaling $700 million and $850 million respectively.
Evraz announced at the end of September that it would exercise its option to redeem the bonds ahead of schedule. The yields on the Eurobonds are 9.5% for the $700 million issue and 6.75% for the $850 million issue. Both are scheduled to mature in April 2018.
The premium for the Eurobonds remaining in circulation is $36.93 for each $1,000 bond in the $700 million issue. Including accumulated coupon income ($0.79), Evraz will pay $1,037.72 for each bond.
It will pay a premium of $23.93 for each outstanding Eurobond from the $850 million issue plus $33.75 in accumulated coupon income or a total of $1,057.68 per $1,000 bond.
The date of early redemption is October 27, 2017.
Evraz placed a new issue of six-year Eurobonds totaling $750 million yielding 5.375% in March 2017. Net debt amounted to $4.28 billion as of the end of H1 2017.