Diamond giant Alrosa has completed its bond placement on the MICEX stock exchange, IDEX Online reported.



The Russian diamond power announced that it has completed the placement of its Series 21 and 23 ruble bonds worth RUB 15 billion ($483 million) on the MICEX Stock Exchange.

The quarterly coupon of the RUB 8 billion ($257.7 million) Series 21 issue is set at 8.25%. The RUB 7 billion ($225.5 million) Series 23 was issued at 8.95%.

Both issues mature in 5 years, with a three-year put option for the Series 21 bond. Alrosa reported bond demand of nearly $821.4 million, with orders from 80 investors.

"Bond issuance is an important instrument of reducing and restructuring the Alrosa Group consolidated debt," the miner said in a statement. "By the end of 2010 the financial debt is not to exceed RUB 100.7 billion ($3.24 billion)."

A placement of up to $1 billion 10-year euro bonds is scheduled by Alrosa for the fourth quarter of the 2010.