“Rosneft” is preparing to record for the Russian market placement of ruble bonds, registering new issues of a total volume of 800 billion rubles. Although all sides “b” in the government and the industry agree that in this case it can only go about getting the National Welfare Fund, none of them confirms that the authorities have taken appropriate action. Nevertheless, the company is going to place bonds by 625 billion rubles. today.
“Rosneft” yesterday announced that it will accommodate 12 issues of ruble exchange bonds for a period of six years, totaling 800 billion rubles. On the same day, these issues have been reported MICEX. In the “Rosneft” refused to explain why the record is prepared for the Russian market occupancy and when it can happen. Now the company has registered the other, but not issued ruble bonds by 225 billion rubles., That is, in general, “Rosneft” can take through bonds more than 1 trillion rubles. Later Wednesday, the company announced that he was going to place 625 billion rubles. Of this amount, today, with the potential buyer accepts the offer yesterday from 17 to 18 o’clock.
source “b” in the market assumed that the main purpose of this placement is to provide the National Welfare Fund (NWF). “Rosneft”, cut off from Western funding due to US and EU sanctions, count on NWF in March, when, as he wrote, “Kommersant” on March 18 at the company discussed the issue of bonds by 2.4 trillion rubles. In October, “Rosneft” has filed a formal application, the size of which has never publicly named, but CEO Igor Sechin said: “From a half to two trillion rubles, we will open quietly.”
But while the decision to transfer the NWF at the government level is not accepted because it is not completed all the necessary approval procedures. Now pending in the Ministry of Economy are four project companies (in the government insisted that the NWF allocated to specific projects, and recommended that state-owned companies to specify an application). “At least two of them seem to us worthy of funding from the National Welfare Fund”, – said the head of the ministry yesterday afternoon Alexei Ulyukayev said, adding that the government is not going to be used to buy bonds of NWF “Rosneft”. But for now discussing the scheme (see. “B” of 9 December) NWF can be provided not directly, but through the capitalization of banks, which then invest them in government-approved projects. At the moment, the Ministry of Finance developed the bill requires capitalization of banks only 395 billion rubles. (10% NWF), but it has not yet approved. Requests for additional capitalization of VTB and Gazprombank filed.
No decisions on financing any project of “Rosneft” from the NWF is not accepted, said the source “b” in the government. Source: “b” close to “Rosneft”, said the company still expects to receive money from the National Welfare Fund, let it be, and not the entire amount claimed, but he also heard that some companies approved the application. In mid-November, the interlocutors “b” saying that “Rosneft” can be obtained from the National Welfare Fund to 300 billion rubles., As the size of the fund (currently 3.95 trillion rubles., About half have already distributed) does not allow a broader support.
In the market of the Russian Federation declared “Rosneft” volume is now very difficult to place, and the ruble rate is very high, says director AK Small Letters Vitaly Kryukov. At the same time, in his opinion, “Rosneft” now there is no urgent need for money, the more so in the next six months will arrive the next installment of advance payments of the Chinese contract for the supply of oil.
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