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Bonds

As part of its financing activities, Rostelecom has an active bond programme. As of 31 December 2015, the total value of the Company’s outstanding bonds amounted to RUB 35,447,970,000 representing 19% of the Company’s debt portfolio.

The Board of Directors of Rostelecom approved two new exchange-traded bonds programmes that represent a total value of RUB 300 bln on 28 October 2015. Placing separate bond issues as part of Rostelecom’s approved bond programmes affords the Company maximum flexibility in terms of attracting financing at optimal terms as far as the volume, term and costs of borrowing are concerned. The Company places significant importance to such flexibility in the current environment, so that each debt issue is tailored to the changing market situation.

The approved exchange-traded bond programmes have the following specifics:

  • Bond programmes of a value up to RUB 100 bln and maximum period of circulation of individual issues up to 30 years from the date of their placement, includes incorporated call and put options, individual issues shall be included in the Bank of Russia’s Lombard List on general conditions (after placement);
  • Bond programmes of a value up to RUB 200 bln and maximum period of circulation of individual issues up to 10 years from the date of their placement has the simple characteristics structure, does not include incorporated call and put options and meets the inclusion criteria for the Bank of Russia’s Lombard List before issue placement.
As of 31 December 2015, the Company has the following bonds in circulation:
Type Issue No. Date of issuance Nominal value,RUB Volume of issuance Volume of issuance in circulation, RUB Circulation period, years Redemption date
series 15 certificated interest-bearing non-convertible bearer bonds subject to centralized deposit with a custodian 4-67-00124-А 30.01.2013 1000 5,000,000,000 5,000,000,000 5
series 16 certificated interest-bearing non-convertible bearer bonds subject to centralized deposit with a custodian 4-68-00124-А 13.06.2013 1000 5,000,000,000 152,309,000 5
series 17 certificated interest-bearing non-convertible bearer bonds subject to centralized deposit with a custodian 4-64-00124-А 08.11.2012 1000 10,000,000 00 295,661,000 5
series 18 certificated interest-bearing non-convertible bearer bonds subject to centralized deposit with a custodian 4-65-00124-А 30.01.2013 1000 10,000,000,00 10,000,000,000 5
series 19 certificated interest-bearing non-convertible bearer bonds subject to centralized deposit with a custodian 4-66-00124-А 12.03.2013 1000 10,000,000 00 10,000,000,000 5 15.03.2016
series БО 01 certificated interest-bearing non-convertible exchange bearer bonds subject to centralized deposit with a custodian 4BO2-01-00124-А 29.05.2015 1000 5,000,000,000 5,000,000,000 10 27.05.2017
series БО 02 certificated interest-bearing non-convertible exchange bearer bonds subject to centralized deposit with a custodian 4BO2-02-00124-А 02.06.2015 1000 5,000,000,000 5,000,000,000 10 31.05.2017

It is assumed that all debt issues within the current bond programmes shall be used primarily to refinance the Company debts.

ВВВ- Fitch Ratings
ВВ+ Standard & Poor's