Rosneft agreed to borrow $ 15 billion

Роснефть решила одолжить 15 миллиардов долларов

The money will be spent on an international project and new projects on oil production in Russia.

The Russian state company Rosneft decided to issue the exchange bonds in the amount of 1,071 trillion rubles (over 15.6 billion), RBC reports referring to the press-Secretary of the company Mikhail Leontyev.

The maturity of the bonds will be ten years from the date of issuance.

In addition, the Board of Directors of the company approved the possibility of concluding a “daughter” company of the transactions on purchase of bonds to be issued under the programme.

The money will be spent on international projects, new projects for oil production in Russia, as well as planned debt refinancing.

According to the presentation of the company, if Rosneft is to sell bonds for the full amount, the money is enough to refinance the debts of the Corporation until the end of 2017.

As you know, Rosneft, according to S&P Global Platts ranked seventh in the ranking of energy companies in the world.