Russia's Rosneft Approves 1 Trillion Rouble Bond Program

Reuters

MOSCOW, Nov 24 (Reuters) - The board of Russia's largest oil producer Rosneft has approved a bond program worth 1.071 trillion roubles ($16.55 billion) for 10 years, the company said on Thursday.

Rosneft said its subsidiaries may buy its bonds as part of the program and that the bonds will be sold in separate issues.

It also said it would use the bonds to finance foreign projects, new producing assets and to refinance previous loans and bond issues.

(Reporting by Katya Golubkova; Writing by Denis Pinchuk; Editing by Alexander Winning)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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