Rate of first coupon of Yamal LNG bonds for $2.3 bln determined at Libor +3%

The rate of the first coupon of bonds of series 01 of Yamal LNG for $2.3 bln has been determined at Libor +3%, the company reports. The rate is not to exceed 5% per annum.

The company plans to start offering the bonds of series 01 for $2.3 bln on February 19th.

On Jan 27th the Board of Directors of Yamal LNG approved the issue of bonds in dollars of two series with the total volume of $4.6 bln for 15 years. The series 01 and 02 will be offered for $2.3 bln each.

In late December 2014 the Ministry of Economic Development sent a draft regulation on the issue of funds from the National Welfare Fund to Novatek for the project of construction of an LNG plant “Yamal LNG”. When the regulation was signed by the Prime Minister D. Medvedev, the company can be issued 150 bln roubles by the NWF.