Russia's LSR Group to issue RUB 3 billion of series-03 bonds due 2017

By Angela McDaniels

Tacoma, Wash., Sept. 4 - OJSC LSR Group will issue RUB 3 billion of series-03 interest-bearing non-convertible bonds with mandatory safekeeping, according to a company filing with the London Stock Exchange.

The lead manager is Uralsib Financial Corp. The offering will be conducted in the form of a tender to determine the first coupon rate.

The tenor of the bonds is 1,820 days, or roughly five years.

The bonds have a par value of RUB 1,000 each.

The placement date will be Sept. 14.

Proceeds will be used for refinancing and to finance the company's investment projects.

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

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