Press Releases and Events
NOVATEK closes debut Eurobond issue
Moscow, 3 February 2011. OAO NOVATEK (NOVATEK and/or the Company) announced today the closing of its debut Eurobond issue in an aggregate amount of US$ 1.25 billion. The Eurobond was approximately eight times oversubscribed and issued at par in two tranches, a five-year US$ 600 million bond with a coupon rate of 5.326% and a ten-year US$ 650 million bond with a coupon rate of 6.604%. The Eurobond coupons are payable semi-annually.
The initial size of the Eurobond issue was US$ 1 billion however, due to high demand and favorable pricing the Company increased the aggregate amount to US$ 1.25 billion. According to NOVATEK’s CFO Mark Gyetvay, “The success of our debut Eurobond underscores the Company’s strong financial and operational fundamentals as well as the quality of the book building process and is the result of the collective efforts of all parties involved."
The Joint Lead Managers for the Eurobond issue were BNP Paribas, Citi and the Royal Bank of Scotland and the Co-Managers were Gazprombank, Troika Dialog and UniCredit Bank.
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.