Rosgeo may delay bond offerings due to tough market situation

MOSCOW, Apr 5 (PRIME) -- Russian state geological exploration company Rosgeo may delay its debut bond offerings until September–November from until the end of May as the current market situation is tough, CEO Sergei Gorkov told reporters in a news briefing on Monday.

“It is very difficult to assess the situation, we are looking into it now and may issue bonds now or delay them to this autumn. … We are discussing the sum, we will track the market situation … which has been tough,” he said, adding that the company still planned to offer 3-year bonds in 2021.

Rosgeo said it wanted to spend the money on investment program until 2025 and refinancing of current debt.

He also said that the company planned to do geologic exploration on the shelf of Vietnam in 2021, and finish seismic exploration on the shelf of India ahead of schedule.

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