Russia's leading private oil producer, Lukoil, on Tuesday opened the book on a $160 million domestic bond issue as part of a scheme it hopes will raise $3.2 billion in cash. Lukoil aims to sell 5 million bond coupons with a par value of 1,000 rubles ($1.60) each, giving a target total of 5 billion rubles. It will be collecting bids until Jun. 19, with placement scheduled for Jun. 23. The term of the bond is 364 days, while investment bank Troika Dialog is acting as issue manager.
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