Finance

In January – September, Slavneft’s net profit increased by 2.6 times to 17.2 billion rubles

In January – September, Slavneft’s net profit increased by 2.6 times to 17.179 billion rubles. Growth in profit is presupposed by ‘participation in other organizations’ that increased by 2.9 times to 18.805 billion rubles. Revenue declined by 8% to 7.747 billion rubles. Production prime cost within the period was 6.175 billion rubles, by 3% more than last year. Pretax profit increased by 2.5 times to 16.825 billion rubles
Slavneft is the joint venture of Rosneft and Gazprom Neft.

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In January – August, Gazprom’s export revenue declined by 4%

In January – August, Gazprom’s export revenue declined by 4% to $42.8 billion. Physically, exports increased from 117.4 billion cubic m to 124 billion cubic m, including 89 billion cubic m to far abroad (74.4 billion cubic m a year ago), and 35 billion cubic m to near abroad (43 billion cubic m a year ago).
Translated by Nadezhda Poltoratskaya       
Source: http://www.angi.ru/news.shtml?oid=2805478

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Transneft pays 3.49 billion to repay the 4th coupon on bonds of the 2nd series

Transneft has paid coupon profit for the 4th coupon period on the bonds of the 2nd series, the company reports.
A coupon  in the amount of 99.73 rubles per 1 bond was paid to owners of bonds on the assumption of the coupon rate in the amount of 10% per annum. The total amount of yield, paid for the 4th coupon, made up 3 490.550 million rubles.

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Head of Templeton EM Group is thankful to Putin for support of BP-TNK’s minority shareholders

The British Templeton Emerging Markets Group, headed by Mark Mobius is thankful to Russian President Vladimir Putin for his support of BP-TNK’s minority shareholders on issue of price of shares buyback by Rosneft, expressed last week, the agency Bloomberg reports, referring to email message of Mobius.
Templeton has repeatedly expressed its anxiety concerning the fate of the BP-TNK minority shareholders after the purchase of the company by Rosneft. Last week, a representative of Templeton Artem Litvinov during the forum of VTB Capital directly addressed to President Vladimir Putin a complaint about Rosneft’s actions and stated that the fund considered the offer’s price in the amount of 67 rubles per 1 ordinary and 55 rubles per one preferred share unfair.

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Norilsk Nickel Board of Directors will discuss Eurobonds placement

On October 8th 2013, Norilsk Nickel Board of Directors will discuss a Eurobonds placement at the ordinary session. The agenda includes agreement of the transaction for the attraction of one or several loans by the company from its subsidiary MMC Finance Limited financed by the funds raised in issuing and placement of Eurobonds.
In April 2013, Norilsk Nickel placed Eurobonds for a total sum of $750 million. The coupon rate was 4.375%. The Eurobonds repayment period was April 30 2018. The securities are issued by MMC Finance Limited. Since April 30 2013 the Eurobonds are included to the official list and introduced for trading at the main site of the Irish SE.

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NLMK to plan to place 10-year bonds for 5 billion rubles on October 14

On October 14th of 2013, Novolipetsk Steel (NLMK) plans to place 10-year stock bonds of the 13th series (BO-13) to the amount of 5 billion rubles by public subscription at the MICEX Stock Exchange, the company reports.
Today NLMK opens the order book on purchase of bonds of the BO-13 series.
The indicative coupon rate is 8.25-8.5% per annum (the yield to put is 8.42-8.68%).
The offer on bonds is intended in 4 years.

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Bashneft has registered the Luxembourgian Bashneft Investments

Bashneft has registered its Luxembourgian offshore company Bashneft Investments. The latter can manage over 20% in Bashneft. Earlier 2 sources of ITAR-TASS told about possible purchase of a shareholding in Bashneft by Independent Oil and Gas Company (INK). The new owner of INK is the Luxembourgian offshore Dako Energy Investments S. A. It simplifies the possibility of the potential transaction because the offshore companies are within one and the same jurisdiction.

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Metinvest is going to raise credit of $500 million

The Ukrainian largest mining and metallurgical holding Metinvest, a member of SKM is going to raise credit of $500 million within the bounds of the pre-export financing, a source in the banking sphere says. Metinvest gives no commentaries about the issue.

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VTB’s Head supports offer of Rosneft for minority shareholders, shares of RN-Holding to decrease

The shares of RN-Holding have started the trading session at the Moscow Exchange on the decrease against the background of Rosneft to review the prices of buy back of securities from minority shareholders. Quotations of RN-Holding (previously BP-TNK Holding) fell by 0.15% to 52.02 rubles per share at the start of trades.
Speaking at the International investment Forum Sochi-2013 on September 27,  Rosneft’s Head, Igor Sechin reported that the Board of Directors approved the acquisition of shares from minority shareholders of the former BP-TNK Holding. The price of acquisition of RN-Holding’s shares by Rosneft will make up 67 rubles per one ordinary share and 55 rubles the preferred ones.

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Igor Sechin will neither take revenge against Mobius, nor increase the repurchasing price of BP-TNK shares

On Thursday the Head of Rosneft, Igor Sechin replied to the claims of the minority shareholders of BP-TNK that the repurchase price of their shares wouldn’t be increased. However, the company won’t retaliate for the publically voiced doubts in the fairness and reduce the price of the offer.
Templeton Emerging Markets Group headed by Mark Mobius expressed its concern about the minority shareholders of BP-TNK several times. On Wednesday a representative applied directly to Vladimir Putin and made it clear that the largest minority shareholder of BP-TNK considered the price of the offer unfair.
“We are not vindictive”, Sechin said on Thursday, having noted that the decision about redemption of the shares from the minority shareholders of BP-TNK (67 RUR per ordinary share and 55 RUR for preference share) was final. On Thursday the closing rate at Moscow Exchange made up 63.2 and 52.1 RUR respectively.

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