News // Markets & Stocks
Rosneft has paid off eurobonds to the amount of $ 1 bln
29 July 2016 , 10:07Neftegaz.RU669
Rosneft announced in a statement from July 27, 2016, that Rosneft Finance S.A. (a subsidiary of Rosneft) has redeemed second series Eurobonds worth $1 billion.
Those eurobonds were issued by the former TNK-BP Group in 2006, maturing 10 years later, with the coupon rate of 7.5% p.a.
Profit maximization at the operational level and efficient working capital management allow Rosneft to generate a stable cash flow thus ensuring sources for paying dividends, reducing debt load and providing the necessary liquidity for financing of the investment program .
Over 1Q 2015, net debt of the Company was reduced by 44.8% in dollar terms and made $23.9 bln.
Following the above redemption, series 3 of Rosneft Finance S.A. eurobonds remain in circulation, with total nominal value of $2.4 bln.
16:09 21.03.2018Lukoil more than doubled its profits in 2017 on higher revenue
15:21 19.03.2018Rosneft posted a rise in profits in 2017
18:00 01.03.2018Spanish Repsol books the highest profit in 6 years
16:06 16.02.2018Italy´s Eni swung back to profit last year after achieving record production levels
16:11 08.02.2018Higher oil prices, cost cuts hike Total’s profit