Gazprom Neft to place seven exchange bond issues worth a combined 50 bln rubles
MOSCOW. March 12 (Interfax) - OJSC Gazprom Neft plans to place seven exchange bonds worth a combined 50 billion rubles, the company said in a statement.
Bond series BO-01 through BO-01 will come to 5 billion rubles each while series BO-05 through BO-07 will come to 10 billion rubles each.
The bonds will be in circulation for three years and have semiannual coupons. The issues have an option for preterm buyback on the discretion of the issuer.
The company told Interfax that the funds are being raised for general corporate needs.
In September 2009, Russia's Federal Financial Markets Service (FFMS) invalidated and annulled Gazprom Neft's first, second and fifth bond issues since the issuer did not place a single issue over the course of a year.
In 2008, Gazprom Neft readied five bonds issues for placement worth a combined 35 billion rubles. The term for the first series issue, worth 5 billion rubles, was five years, second series - 7 billion rubles, five years, third series - 8 billion rubles, seven years, fourth series - 10 billion rubles, 10 years and fifth series - 5 billion rubles, 10 years.