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13

Transneft Will Issue Bonds

Transneft will float non-convertible series 01 bonds worth $1.03 bln with a maturity period of 10 years, the Russian company said in a statement Friday

The decision was made during a board meeting on Thursday. RBC reported.

The company plans to place 35m bonds with a par value of 1,000 rubles (approx. $ 29.57) each by public subscription.

The offering price will be equal to the par value. The bonds can be redeemed early upon the holders' request or at the issuer's discretion and are secured by the collateral of Sibnefteprovod, Transneft's subsidiary.

Source: RBC

Author: Ksenia Kochneva