Russia's Novolipetsk Steel plans RUB 50 billion bond program

By Susanna Moon

Chicago, Sept. 18 - OJSC Novolipetsk Steel said its board of directors approved a decision to launch a RUB 50 billion bond program that will trade on the Russian debt market.

Proceeds will be used to refinance short-term debt and for other corporate purposes.

The Lipetsk, Russia-based steel company said it will publish details about the loan structure on its web site at nlmk.com before the issue of the bond program.

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