By Reshmi Basu
New York, April 7 - Highland Gold Mining Ltd. said it priced 750 million rubles of three-year bonds at par through an auction to yield 12%.
Proceeds will be used for general corporate purposes, including funding construction and development of projects.
The bonds were issued by the company's special purpose vehicle, Highland Gold Finance Ltd., and guaranteed by Highland Gold.
International Moscow Bank and Promsvyazbank acted as joint lead arrangers and underwriters for the issue. Vneshtorgbank acted as a co-manager. International Moscow Bank is the paying agent.
London-listed Highland Gold has mining operations in Russia, including one of the country's largest producing mines, Mnogovershinnoe.
| Issuer: | Highland Gold Finance Ltd.
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| Amount: | 750 million rubles
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| Maturity: | Three years
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| Coupon: | 12%
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| Price: | Par
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| Yield: | 12%
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| Pricing date: | April 7
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| Lead arrangers: | International Moscow Bank, Promsvyazbank
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