UPDATE 1-Russia's NLMK, Gazprom raise combined $1.1 in bonds
(Adds details on Gazprom, VTB)
MOSCOW, Sept 27 (Reuters) - Novolipetsk Steel, Russia's fourth-largest steelmaker, and Gazprom, Russia's top natural gas producer, have raised a combined total of nearly $1.1 billion through debt issues.
Novolipetsk said on Thursday it raised $500 million via a seven-year Eurobond issue with an annual coupon of 4.95 percent. It said it will use the proceeds for general corporate purposes, including debt refinancing.
In a separate deal, Gazprom said it raised $598 million via a short-term Eurocommercial paper (ECP) issue.
ECP deals, as used by state-controlled lender VTB in its latest deal worth $125 million, usually requires less paperwork compared with Eurobond issues and benefits from a quicker roadshow.
Russian borrowers have raised over $35 billion via Eurobond issues so far this year, more than for the whole of last year. (Reporting by Katya Golubkova and Oksana Kobzeva; Editing by David Cowell and David Holmes)
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