Novatek OAO Plans Eurobonds Issue-Interfax

Interfax reported that the Board of Directors at Novatek OAO (NOVATEK) has approved plans to issue Eurobonds maturing in up to ten years worth up to $1.5 billion or the equivalent in other currencies at up to 9% per annum, the Company said in a statement. Novatek Finance Limited would issue the bonds. NOVATEK placed $600 million in five-year Eurobonds and $650 million in 10-year bonds at 321.5 basis points against swaps at the beginning of last year. Yield on the five-year notes was 5.326% pa and on the ten-year notes 6.604%. BNP Paribas, Citi and Royal Bank of Scotland organized the placements.