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. Last Updated: 07/27/2016

Diamond Bond Delay

n MOSCOW -- Almazy Rossii-Sakha, or Alrosa, Russia's biggest producer and exporter of rough diamonds, has decided to delay a $500 million Eurobond issue originally timed to start in December because of the poor state of the world stock market, said company president Vyacheslav Shtyrov.

Shtyrov said the company's financial experts and other consultants would meet late November to discuss the future strategy on the stock market.

Tied in with the issue are the release of credits already arranged with the U.S. Export-Import Bank valued at $62 million and NatWest Markets valued at $500 million.

Shtyrov said the stock market crisis at the end of October had delayed the Eurobond issue even though the crisis "had not had an immediate effect on the company, as Alrosa shares are not traded."