The Russian steelmaker Severstal has announced that it has repaid $325 million in Eurobonds issued from its internal funds.
The bonds were issued on February 19, 2004, and amounted to $325 million repayable in five years.
In April 2008, Severstal reorganized its business into three divisions: Severstal Russian Steel, Severstal Resources and Severstal International. Severstal Russian Steel includes Russian-based production facilities for steel, pipe, metalware, services and also scrap procurement operations, and in 2007 was the third largest Russian crude steel producer (16.4 percent of the country's total) and the third biggest rolled steel producer (17.9 percent of the national total).