Wednesday, October 1, 2014   

Russia's Rosneft considers US$66b debt issuance
(03-18 16:47)

Russia's leading oil producer Rosneft, which this week took a 13 percent stake in Italy’s Pirelli, is considering offering 2.4 trillion roubles (US$66.2 billion) in rouble-denominated bonds to finance debt, a report said.
The Kommersant business daily said the state-controlled company was “discussing the possibility'' of launching the unprecedented high-volume bond offering if the rouble comes under further market pressure, which would make it more expensive to pay back its dollar-denominated debt.
Kommersant said that Rosneft's total debt amounted to 1.9 trillion roubles at the end of 2013 partly due to its acquisition of TNK-BP from BP and a consortium of Russian billionaires, which meant it took on US$16.8 billion in syndicated loans.—AFP
   
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