Slavneft Oil Company To Issue More Bonds

The Russian oil company Slavneft and Troika Dialog investment company are holding negotiation on the possibility of issuing new bonds of Slavneft, Alexey Pechenkin, vice-president of the oil company, reported in an interview with RBC. He mentioned the volume of terms of the new issue have not been determined yet. However, taking into account a large demand for such securities and a successful floatation of the previous bond issue worth 1bn rubles ($35m), new bonds may be floated before the previous one matures. As reported earlier, Slavneft issued the first tranche of its bonds for 1bn rubles at a 2-2.5 per cent level of profitability on April 9, 2001. This level of profitability of higher than that of OFZ federal loan bonds.