Bashneft has placed exchange-traded bonds worth 15 billion rubles
UFA, 12 May 2016. /Bashinform News Agency, Olesya Seregina/.
Bashneft completed placement of series BO-06 and BO-08 exchange-traded bonds with a par value of 10 billion rubles and 5 billion rubles respectively, the press service of the company informs.
The first coupon rate is set at 10.9 percent per annum and the 2-18th coupon rates are equated to it. These issues of exchange-traded bonds suppose a put option in 2025 and allow their early redemption at the discretion of the company in 2021 (series BO-06 bonds) and in 2022 (series BO-08 bonds).
Earlier it was reported that on May 10, Bashneft bought out all series BO-03 exchange-traded bonds worth a total of 5 billion roubles before their maturity date. This series of exchange-traded bonds had a put option in 2020 and the coupon rate of 12% per annum.
Gazprombank acted as the agent for the redemption and the arranger of placement of the new exchange-traded bond issues.
According to Alexey Lisovenko, Bashneft’s Vice President for Economics and Finance and Chief Financial Officer, transactions with bonds are aimed at optimizing its debt portfolio, including extension of the tenor of debt and reduction in borrowing costs.
As Rusbonds informs, currently there are four issues of exchange-traded bonds of the company for 25 billion rubles and eight classical bonds for 90 billion rubles in circulation.