Gazprom Neft places 3 billion yuan bonds

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GAZPROM NEFT Plc Issues RMB 3 Billion Bonds

GAZPROM NEFT Plc (GAZPROM NEFT), a Russian oil company, has successfully issued RMB 3 billion worth of bonds through an open subscription.

The company issued 3 million bonds, each with a face value of RMB 1,000.

The bonds have a maturity period of 1.5 years and a coupon period of 91 days.

Based on the results of the tender, the coupon rate for the entire circulation period was set at 8.30% per annum.

The issuer has the option to redeem the bonds early at the end of the 2nd, 3rd, 4th, and 5th coupon periods.

GAZPROMBANK acted as the organizer and placement agent for the bond issue.

Overview provided by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management, Higher School of Management, Financial University under the Government of the Russian Federation.