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. Last Updated: 07/27/2016

MMK Sells $170M in 3-Year Bonds

Magnitogorsk Iron & Steel Works, or MMK, sold 5 billion rubles ($170 million) of three-year bonds paying a 9.45 percent coupon, the lowest rate for a Russian company in more than a year, Renaissance Capital said Thursday.

The offering was four-times oversubscribed, said Dmitry Sredin, head of debt finance at Renaissance, which helped manage the sale.