Rosneft to collect bids for 20 bln rbl secondary bonds on Oct 26–27

MOSCOW, Oct 17 (PRIME) -- Russian oil major Rosneft plans to collect bids for a secondary placement of the fourth and fifth series of classic bonds totaling up to 20 billion rubles after a buyback offer on October 26–27, a banking source told PRIME on Tuesday.

The price guidance of the secondary placement is set at no lower than 100%. The date of the secondary placement is preliminary scheduled for October 27 – the date of the buyback offer – and the volume of the placement will be equal to the amount of bonds submitted for the buyback.

The company placed the two 10 billion ruble 10-year bond issues in October 2012. The issues carry semiannual coupons, and rates of the first 1- coupons amounted to 8.6% annually, and rates of other coupons before the buyback offer were set at 7.9% annually, which corresponds to an 8.06% annual yield to maturity.

Gazprombank will act as the organizer of the secondary placement.

(57.0861 rubles – U.S. $1)

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