A programme of Gazprom Neft short-term exchange-traded bonds (series 002P, total volume RUB50 billion, assigned number 4-00146-A-002Z-02E) has been registered on the Moscow Exchange. The maximum maturity of the bonds under this programme is 30 years, with the bonds available for placement for a period of up to one year. A programme for the annual issuance of bonds in the order of up to RUB50 billion was approved by the Gazprom Neft Board of Directors on 10 July 2017.
Alexei Yankevich, Deputy CEO, Economics and Finance, Gazprom Neft, commented: “The placement of short-term exchange-traded bonds is a new practice in Russia’s corporate sector, currently being tested by the company. In registering this programme Gazprom Neft is expanding its range of short-term financing instruments: we view the opportunity of placing ‘short-term’ bonds as an additional treasury instrument in overcoming cash gaps, and will be able to take advantage of this option, should the need arise.”