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ALROSA Repays $185M Worth of Commercial Bonds

Jun 23, 2015 12:22 PM   By Jeff Miller
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RAPAPORT... In the past week, ALROSA repaid Series 20–23 commercial bonds of $185 million (RUB 10 billion)  that were placed on Moscow Exchange in June 2010.

According to a company statement, the bonds were repaid through a liquidity source of cash that had accumulated earlier on bank deposits. As a result of the transaction, ALROSA reduced its loans and borrowings from $3.5 billion to  $3.3 billion. 

In October, ALROSA intends to repay ruble bonds series BO-01 and BO-02 that were placed in October 2012, also totaling $185 million (RUB 10 billion).  The payment will be possible through cash that is currently accumulating on bank deposits of more than $683 million (RUB 37 billion).




Tags: Alrosa, bonds, Debt, Jeff Miller, repayment
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