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. Last Updated: 07/27/2016

Novolipetsk to Sell Bonds

Novolipetsk Steel said its board approved the sale of 50 billion rubles ($1.65 billion) of bonds to refinance short-term debt.

Proceeds will also be used by the company for “general corporate purposes,” it said Friday in a statement. The three-year bonds will be sold in seven portions, the company said in a separate e-mailed statement.