NOVATEK Repays Ten-Year Eurobonds
Moscow, 3 February 2021. PAO NOVATEK announced today the Company has repaid the USD 650 million Eurobond issue in accordance with the bonds maturity schedule. The Eurobonds were originally issued in February 2011 for a ten-year term with a stated coupon rate of 6.604%.
PAO NOVATEK is the largest independent natural gas producer 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 Region, 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.