Bloomberg News

Zarechnaya Coal Sets 10.8% Coupon on 3 Billion Rubles of Bonds

December 29, 2011

Dec. 29 (Bloomberg) -- Zarechnaya Coal Co., a Russian miner, set a coupon of 10.8 percent on 3 billion rubles ($93 million) of bonds with a three-year put option.

Zarechnaya Coal, based in Siberia, announced the terms in regulatory filings today. The producer is controlled by businessman Viktor Nusenkis, owner of the Ukrainian steelmaker Donetskstal Group, according to Forbes magazine.

The company increased coal output 12 percent in the first 11 months of the year to 8.4 million metric tons, its website shows. Zarechnaya was Russia’s fifth-largest producer of coal for power plants in the first half, according to Dnipropetrovsk- based Metal Expert.

--Editors: Amanda Jordan, Tony Barrett

To contact the reporters on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net; Artyom Danielyan in Moscow at adanielyan@bloomberg.net.

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net.


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