Russia's LSR Group to place RUB 5 billion series-04 bonds on Oct. 26

By Susanna Moon

Chicago, Oct. 19 - LSR Group OSJC said it plans to issue RUB 5 billion of series-04 interest-bearing non-convertible bonds on Oct. 26.

The company plans to issue 5 million bonds with a nominal value of RUB 1,000 each, according to a press release.

Proceeds will be used for refinancing current credit liabilities to improve maturity of the company's credit portfolio, the release noted.

The lead managers are Uralsib Financial Corp., Rosselkhozbank, Alfa-Bank.

The placement was approved by the company's board of directors.

The real estate development and building materials company is based in St. Petersburg, Russia.

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