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Russia's Severstal announces offering of $200 mln convertible bonds

MOSCOW, April 26 (Reuters) - Russian steel major Severstal said on Tuesday it was launching an offering for an issue of around $200 million of bonds, due in 2021 and convertible into its Global Depositary Receipts listed on the London Stock Exchange (Other OTC: LDNXF - news) .

The bonds are expected to carry a coupon of between 0 and 0.5 percent per annum payable semi-annually, Severstal said in a statement.

"The bonds will be issued and redeemed at 100 percent of their principal amount and, unless previously redeemed, converted or cancelled, will mature on 29 April 2021," it said. (Writing by Dmitry Solovyov; Editing by Maria Kiselyova)