January 19, 2018 / 7:20 AM / 9 months ago

BRIEF-Russia's Polyus launches $250 mln bond offering ​

Jan 19 (Reuters) - Russian gold producer Polyus says:

* Polyus launches a $250 million offering of Senior Unsecured Guaranteed Convertible Bonds due 2021 to be issued by Polyus Finance PLC.

* The Bonds are, subject to a cash settlement option at the discretion of the issuer, convertible into Reg S Global Depositary Receipts (GDRs) of the company listed on the London Stock Exchange, with two GDRs representing one ordinary share of the company.

* The issuer intends to use the net proceeds from the issue of the Bonds primarily for debt refinancing and other general corporate purposes of the group.

* The Bonds are expected to carry a coupon of between 0.50 and 1.00 percent per annum payable semi-annually in arrear.

* The conversion price is expected to be set at a premium of between 30 and 35 percent to the reference price‍. Source text for Eikon: Further company coverage: (Reporting by Moscow bureau)

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