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25

Bashneft places exchange-traded bonds worth 10 billion roubles

Today, Bashneft has placed series BO-02 exchange-traded bonds with a par value of 10 billion roubles, with the coupon rate of 10.5% per annum and a put option in 2023.

Bashneft places exchange-traded bonds worth 10 billion roubles Bashneft places exchange-traded bonds worth 10 billion roubles

Today, Bashneft has placed series BO-02 exchange-traded bonds with a par value of 10 billion roubles (ID number of the issue: 4B02-02-00013-A dated August 29, 2011), with the coupon rate of 10.5% per annum and a put option in 2023.

 

On May 23, 2016, Bashneft bought out two issues of exchange-traded bonds (series BO-04 with a put option in 2020 and series BO-07 with a put option in 2021) in full (10 billion roubles) before their maturity date. Series BO-04 and series BO-07 exchange-traded bonds had a coupon of 12% and 12.1% per annum respectively.

Transactions in bonds will enable the Company to extend the tenor of debt considerably, to achieve a flatter repayment profile and to reduce the average cost of debt.

CJSC Sberbank CIB acted as the agent for the buyback and the arranger of placement of the new exchange-traded bond issue.

Source : Neftegaz.RU