Russia's Novatek board approves up to RUB 75 billion of bonds

By Wendy Van Sickle

Columbus, Ohio, Dec. 9 – OAO Novatek’s board unanimously approved the regulatory filing and registration of up to RUB 75 billion of interest-bearing, non-convertible bonds, according to a London Stock Exchange notice.

The bonds may have a tenor of up to 20 years, and proceeds will be used for general corporate purposes, according to the filing.

Novatek is an independent gas producer based in Tarko-Sale, Russia.

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