Tyumen Oil could launch a $1 billion eurobond before the end of the year, its CFO revealed yesterday.
Iosef Bakaleynik, Tyumen’s CFO, said the Russian oil producer could issue another Eurobond after its delayed $400 million Eurobond issue in November last year.
Speaking at Euromoney’s twelfth annual Global Borrowers Forum in London, Bakaleynik said the low interest rates and longer maturities Eurobonds offered were attractive. He pointed out that debt raised through project finance matured on average in only three years, compared with a Eurobond’s seven.
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