MOSCOW. Nov 15 (Interfax) - Novolipetsk Steel (NLMK) on Tuesday fully placed its 10 billion ruble BO-07 exchange bond issue, the company reported.

The company placed the three-year bonds through open subscription on the MICEX.

Demand totalled 17.7 billion rubles. During book building investors submitted 63 bids with coupon yield ranging from 8.7% to 9.5% per annum. The issuer accepted 50 bids.

Coupon one yield was set during book building at 8.95% per annum. Bids were accepted by Troika Dialog and Gazpromank from October 31 to November 10.

First coupon yield guidance was at first set at 8.75-9.25% but then lowered to 8.75-9% per annum, which corresponds to yield to maturity of 8.94-9.2%.

The issue envisaged the option of a buyback offer after 18 months, but during placement the issuer decided not to announce the offer.

The NLMK board approved the issue of 50 billion rubles in seven issues of three-year bonds through open subscription in September 2009. In October of the same year the issues were registered by the MICEX Stock Exchagne.

Issues B