Russian Producers Beat Sanctions With Ruble Bonds

摘要

Rosneft and Gazprom Neft are placing new series of ruble-denominated bonds in another sign that the Russian oil producers have learned how to attract domestic financing while under Western sanctions. Rosneft, Russia's biggest oil company, is placing bonds worth a total of 30 billion rubles ($512 million) to help finance capital spending. Earlier in December, the company placed two series of ruble-denominated bonds worth a total of 600 billion rubles ($10.23 billion) as part of its $22 billion bond program (NC Nov.2'17).