Akin Gump Advises LUKOIL in Issuance of $2.3 Billion Notes
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(Moscow) – Akin Gump has advised PJSC LUKOIL in its issuance of $2.3 billion Rule 144A / Regulation S notes in two tranches.
The issuance comprises (i) $1.15 billion 2.80% 5.5-year notes due 2027 and (ii) $1.15 billion 3.60% 10-year notes due 2031. The notes were issued by LUKOIL Capital DAC (a wholly owned subsidiary of PJSC LUKOIL) and are guaranteed by PJSC LUKOIL.
The notes have been admitted to the Official List of the United Kingdom Financial Conduct Authority and admitted to trading on the Main Market of the London Stock Exchange plc.
The notes have been assigned a rating of BBB+ by Fitch and Baa2 by Moody's. For further details on the transaction, please click here.
The Akin Gump team was led by energy partner / partner in charge of the Moscow office Natalia Baratiants with partners Robert Aulsebrook and Daniel Walsh, counsel Ekaterina Makarova, Julian Veshi and Andrey Kulikov, and associate Nikolay Ryashin. Partner Nnedinma Ifudu Nweke advised in relation to sanctions matters.
The completion of this matter follows two recent transactions on which the firm also advised LUKOIL: LUKOIL’s acquisition of a 15.5% interest in the Shah Deniz Natural Gas Project in Azerbaijan (more details here) and its acquisition of a 25% interest in the Shallow Water Absheron Peninsula (SWAP) exploration project, also in Azerbaijan (more details here).
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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