Russia's Sibur plans $5 bln bonds for subsidiary

Newswire

MOSCOW, Feb 29 (Reuters) - Russian petrochemical firm Sibur said on Friday it planned to issue 120 billion roubles ($5 billion) in bonds for subsidiary Sibur Motors. The bonds, which will be in four tranches, are subject to approval by Sibur's shareholders, who meet to discuss the issue on March 14. Each tranche has a value of 30 billion roubles and a maturity of seven years. Sibur, which is majority owned by Gazprombank, the banking arm of Russian gas export monopoly Gazprom , ...

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