Russia's Globaltrans to sell up to RUB 15 billion of three-year bonds

By Marisa Wong

Madison, Wis., Jan. 31 - Globaltrans Investment plc announced that its board of directors authorized the issue of up to RUB 15 billion of three-year exchange-traded non-convertible bonds.

The bonds will be issued by a subsidiary.

Proceeds will be used to finance the parent company's investment program, to refinance existing debt and for general corporate purposes.

Globaltrans is a Russian private freight rail transportation group with subsidiaries in Russia, Ukraine and Estonia. Globaltrans Investment is incorporated in Cyprus.

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