LONDON, April 3 (IFR) - Russia's Rosneft is likely to return
to the international capital markets in the next couple of
weeks, according to bankers, with its first bond deal since
completing the state-owned company's US$55bn acquisition of
"It's one of the names that could come intraday in the next
two weeks or so," said one banker familiar with the situation,
adding, though, it would take at least a week for the company to
get its documents ready.
Another banker, who agreed an April sale was probable, said
timing was dependent on Rosneft getting a sufficiently
Much will depend on the likely size, which at this stage
remains uncertain. "I really don't know what they want to do,"
said the first banker.
Oil and gas companies raised record levels of debt in the
global bond market in 2012, selling in excess of US$84bn,
according to Thomson Reuters data. This month, bankers are
forecasting record issuance from the CEEMEA region with the
volume possibly surpassing US$25bn.
It is unclear what the line-up of arranging banks will be,
although sources reckoned that every bank involved in the
US$24.62bn bridge loans that were signed in December and
February (as part of an overall US$31bn financing package) is
likely to have some role. Thirteen banks acted as mandated lead
arrangers on the bridge financing.
Rosneft made its debut in the international bond markets
when it printed a US$3bn dual-tranche offering, split between a
US$1bn 3.149% March 2017 note and a US$2bn 4.199% March 2022
The former note is trading at a bid yield of 2.95%, while
the longer dated bond was quoted by Tradeweb at 4.19%.
(Reporting by Sudip Roy; Editing by Alex Chambers and Philip