“Rosneft” has redeemed Eurobonds for $1 billion

Daughter of “Rosneft” Rosneft Finance S. A. repaid Eurobonds of the second series totaling $1 billion. this was reported on the website of the company.

The securities were issued by the group of TNK-BP in 2006. The maturity has come in 10 years, the coupon rate is 7.5%.

The company explained that maximizing profits at the operating level and the “effective working capital management” has allowed “Rosneft” to receive funds to pay dividends, reduce debt and provide necessary liquidity to Finance its investment program.”

In “Rosneft” has reminded that from the 1st quarter of 2015 the company’s net debt decreased by 44.8% in dollar terms, falling to $23.9 billion

Remain outstanding Eurobonds Rosneft Finance S. A. the third series, worth $ 2.4 billion.

The government plans to 2016 to privatize 19.5% of Rosneft.