Rosneft will place bonds for 600 billion rubles

Rosneft approved the conditions for the release of its own 10-year bonds in the amount of 600 billion rubles. This was reported by Interfax with reference to the press service of the oil company.

The press service noted that securities are not supposed to be placed by tranches. In total, 600 million bonds of a thousand rubles will be placed by open subscription, the Prime indicates. When exactly the placement occurs, until it is specified.

Previously, the maximum volume of Rosneft’s bond program was determined at about 1.07 trillion rubles. The company noted that the total amount for which paper will be produced will not necessarily be limit.

The bond output program was approved by the Rosneft board of directors on November 20, and the Moscow Exchange registered it on December 2. The company plans to send the raised funds, including promising foreign projects and debt refinancing.

The hostage organizers will be Gazprombank and Rosneft controlled by Rosneft. At the same time, in case of low demand for bonds or its absence, Gazprombank will redeem the oil company’s paper in the amount of up to 173 billion rubles. The “daughters” of Rosneft are also allowed to purchase bonds.

In December 2015, Rosneft held the placement of a bond for a record 635 billion rubles, which the Kommersant newspaper called the largest in the history of Russia and the most mysterious . The Chairman of the Central Bank Elvira Nabiullina later stated that the sale of Rosneft's papers had an impact on the ruble exchange rate, which a week after the transaction was weakened to historical minimums for the dollar and the euro.