MOSCOW, March 14 (Reuters) - Russian state-owned diamond miner Alrosa plans is planning to raise up to $1 billion in two tranches of Eurocommercial paper issues (ECP), Alfa Bank said in a research note on Wednesday.
“On March 25-26, Alrosa plans to close the deal for placing two tranches of Eurocommercial paper with a maturity of 9 and 12 months,” the report said, adding that the deal was opened on Tuesday.
According to Alfa Bank the yield guidance for the nine-month paper was set at 4.25 percent and at 4.375-4.5 percent for the 12-month bills. Goldman Sachs, UBS and VTB Capital are arranging the deal.
Alrosa declined to comment.
Reporting by Katya Golubkova and Polina Devitt; Editing by Greg Mahlich