Standard & Poor’s Ratings Services has assigned its ‘BB’ local currency debt rating and its ‘ruAA’ national scale debt rating to the senior unsecured domestic bond issue of Rb6bn (US$215mn) being offered by Russian oil major LUKoil.
The debt ratings mirror Standard & Poor’s local currency and domestic scale corporate credit ratings on LUKoil.

The Russian bonds’ tenor will be five years, with a put option granted to bondholders in year three.

Bond proceeds will be used for general corporate purposes and will contribute to extend the company’s average debt-maturity profile.