Cbanker: Russian Rosneft’s bond program can last several years

MOSCOW, Nov 25 (PRIME) -- Russian oil major Rosneft’s 1.071 trillion ruble exchange bond program can last for several years, First Deputy Chairman of the Central Bank Sergei Shvetsov told reporters on Friday.

“We have recently introduced (exchange bond) programs. The program envisages that (the issuers) will be able to issue bonds promptly for many years in its framework, this is why the amount means nothing,” Shvetsov said.

A Rosneft official said that the bonds are meant to repay and refinance debt on schedule and placements under the program will not influence the total amount of Rosneft’s debt.

“The volume is nominally large but this is because the decision is a framework one, it satisfies our needs for many quarters ahead taking into account the strategic foreign deals which we have planned,” the official said.

(64.6279 rubles – U.S. $1)

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