Rosneft successfully completed its debut CNY-denominated bond issue
in Russia. The coupon rate was set at 3.05% per annum, the placement
volume - CNY15 billion.
The market investors’ strong demand allowed
raising a record funds amount in yuan at the lowest rate among bond
placements in Russia. The debut bond issue by the Company became the
largest market corporate bond placement in the history of the Russian
market. This confirms the Company’s highest credit quality (ruAAA
rating assigned by Expert RA), as well as a high degree of investor
confidence in Russian oil and gas sector.
002P-12 series exchange-traded bonds with a
10-year maturity were registered on September 14, 2022 by the Moscow
Exchange. The nominal value of one bond is CNY 1,000. Coupon payments
will be paid twice a year. The bond issue has an offer in 2 years.
The issue was arranged by Russian Regional
Development Bank, Gazprombank, Credit Bank of Moscow, and BC REGION;
with DOM.RF, Bank Zenit, Russian Agricultural Bank and IC VELES
Capital acting as co-arrangers.
The funds raised through the bond placement will
be used in accordance with the approved Rosneft Business Plan to
finance the investment program.
Pursuant to the instruction from the President of
the Russian Federation, Rosneft is gradually shifting to foreign
trade settlements in Russian rubles and national currencies of
friendly countries, while optimizing its debt portfolio structure.
The Company's current debt burden is the lowest since the end of
2013. Net debt / EBITDA ratio gradually decreases over the
last seven quarters.
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September 15, 2022