24 Jun 2010 15:32

Alrosa to place 11 bln rubles in bonds June 29

MOSCOW. June 24 (Interfax) - Alrosa will place 3 billion rubles in 20th series and 8 billion rubles in 22nd series bonds on June 29, the diamond miner said in statements.

All bonds mature in five years.

VTB Capital, TCB Capital and Renaissance Capital are arranging the placements.

Guidance on the first coupon of the 20th series bonds is 8.95% and on the 22nd series - 8.25%, Renaissance Capital said in materials.

Yield-to-maturity in the 20th series is 9.25%, and forecast yield-to-offer in three years on the 22nd series is 8.51%.

The bonds have 20 quarterly coupons.

The bid book for the bonds closes at 3:00 p.m. Moscow time on June 28.

Alrosa closed the bid book for a total of 15 billion rubles in 21st series and 23rd series bonds on Tuesday. These bonds will are being placed on the MICEX exchange today.

The first coupon on the 21st series was set at 8.25% with offer in three years. Guidance was 8.25%-8.5%. The coupon on the 23rd series was set at 8.95% for the whole five-year duration of these bonds.

Alrosa plans to place 26 billion rubles in bonds in H1 2010. Alrosa is also planning $1 billion in ten-year Eurobonds in November to refinance short-term debt.

At the same time, Alrosa is reducing its overall leverage, and intends to cut its debt from $3.79 billion to $3.45 billion during 2010.