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NOVATEK’s Board Approves Rouble Bond Registration
Moscow, 9 December 2016. The Board of Directors of PAO NOVATEK (“NOVATEK” or the “Company”) has unanimously approved the regulatory filing and registration of interest-bearing, non-convertible, Russian rouble bonds (“RR bonds”).
According to the registration documents, the total maximum nominal value of the Company’s potential RR bonds offering is RR 75 billion with a maturity period of up to 20 years for each bond issue. The placement of the RR bonds will take place at the Moscow Exchange. NOVATEK will issue RR bonds as necessary for general corporate purposes.
PAO NOVATEK is one of the largest independent natural gas producers in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. Upstream activities of the Company’s subsidiaries and joint ventures are concentrated mainly in the prolific Yamal-Nenets Autonomous Area, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation.