May 16 (Bloomberg) -- OAO Severstal, the Russian steelmaker controlled by billionaire Alexei Mordashov, plans to sell $1.5 billion of bonds, Interfax reported, citing an unidentified banker with knowledge of the matter.

The organizers of the sale will probably be Citigroup Inc., ABN Amro Holding NV and Credit Suisse Group, the news service said. The sale's promotional tour may start in two weeks, Interfax reported.

To contact the reporter on this story: Mark Sweetman in Moscow at msweetman@bloomberg.net

Last Updated: May 16, 2008 01:21 EDT