UPDATE 2: Russia’s Rosneft says plans to offer 600 bln rbl worth of bonds

(Adds details in two last paragraphs)

MOSCOW, Dec 5 (PRIME) -- Russian state-owned oil major Rosneft plans to offer 600 billion rubles worth of exchange bonds, the company said in a statement on Monday.

The company will collect bids for the bonds from 5.00 p.m. Moscow time until 5.30 p.m.; VTB Capital acts as the placement’s organizer.

Other parameters of the issue were not specified.

The bonds will be offered under a previously approved 1.071 trillion ruble exchange bond program.

Rosneft’s press secretary Mikhail Leontyev told PRIME that the goal of the offering does not include a possible buyback of 19.5% in the company from the government. “We have stated the goal of the borrowing – to cover external deals and refinancing of the debt. There is no buyback among the goals,” he said.

In November, the government issued a ruling that state energy holding Rosneftegaz must sell 19.5% in Rosneft until December 5 for at least 710.8 billion rubles, settlements with a buyer must be finished by December 15, and the federal budget should receive the money until December 31.

(64.1528 rubles – U.S. $1)

End