Severstal’s Abigrove unit calls $250 million 0% convertibles due 2022

By Wendy Van Sickle

Columbus, Ohio, March 24 – PAO Severstal announced Abigrove Ltd., a wholly owned subsidiary, issued an optional redemption notice for its $250 million of senior convertible bonds due 2022.

The convertibles will be redeemed on April 28 at par, according to a London Stock Exchange notice.

Bondholders have a right to convert their bonds into Global Depository Receipts until seven days prior to the redemption.

Severstal is a Cherepovets, Russia-based steel company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.