Novorossiysk may use 18 rubles bonds to refinance dollar debt

OAO Novorossiysk Commercial Seaport (NMTP), Europe’s third-largest port operator by cargo sales, plans to sell 18 billion rubles bonds ($613 million), according to a company statement today, Bloomberg reports. Novorossiysk may use proceeds from the ruble bonds to refinance dollar bonds due in May, Chief Financial Officer Andrey Bubnov said, according to the statement. The company is also considering a syndicated loan as alternative means to refinance dollar debt.