28 Jun 2013 16:02

Alliance Oil unifies terms of several bond issues

MOSCOW. June 28 (Interfax) - Holders of Alliance Oil bonds issued in 2010 have approved an extraordinary resolution on unifying the terms of those bonds with Eurobonds issued in May 2013, the company said in a press release.

Earlier the company had offered holders of the 2009 bond issue, which totaled $350 million at 9% annually, to approve the unification in exchange for a commission.

The company received votes on the resolution from bondholders representing about 80.4% of the principal in the issue, of which 94.54% voted in favor of harmonizing the bond issues.

The main parameters of the bond issue and its maturity will not change, the company clarified to Interfax.

Alliance Oil placed the seven-year Eurobonds at 7.125% in May. The 2010 issue, five-year bonds totaling $350 million, were placed at 9.875%.

Alliance Oil was established in 2008 from the merger between Alliance and Sweden's West Siberian Resources. It engages in hydrocarbon exploration and production in Komi, the Tomsk region, the Volga-Urals region, and Kazakhstan. It also controls the Khabarovsk Oil Refinery and owns a major retail network in the Far East.