Lev Leviev sold his 18 percent stake in Alrosa Co. Ltd. ’s Catoca diamond mine in Angola to China Sonangol International Ltd. , Kommersant reported, citing a letter by Fyodor Andreyev, chief executive officer of the Russian diamond producer to Finance Minister Alexei Kudrin.
Russia purchased $1 billion of diamonds from ZAO Alrosa last year to help the state-run mining company survive the economic crisis, earning 5 percent on the investment, Chief Executive Officer Fyodor Andreyev said.
OAO Russian Railways, the country’s rail monopoly, will limit its borrowing in foreign currencies this year because the ruble’s depreciation makes it too risky, Senior Vice President Fyodor Andreyev said.
Syncreon Holdings Plc, the Auburn Hills, Michigan-based logistics company, is marketing $300 million of eight-year notes as junk-bond issuers choose to pay higher yields to restrict their debt to sophisticated investors and avoid documentation.
ZAO Alrosa , the world’s largest diamond miner, may seek to raise between $2 billion and $2.5 billion through an initial public offering, Kommersant reported , citing Chief Executive Officer Fyodor Andreyev .
Beazer Homes USA Inc., the Atlanta- based builder, is marketing debt as issuers take advantage of investor demand for the lowest-graded corporate bonds before their increased presence in the market raises default rates.