LUKOIL
Lukoil determined bond repurchase price
November 12, 2004 The Board of Directors of OAO LUKOIL by absentee voting has determined a repurchase price of non-convertible interest-bearing documentary bonds to bearer wich the Company plans to offer before the end of 2004.
The repurchase price is fixed at 100% of the nominal value. The number of bonds in the issue is 6,000,000 bonds, total size of the issue is 6 billion rubles. Bonds mature in 5 years. Repurchase of bonds will be possible 3 years after the placement.
The bonds will be placed through an open subscription and will have a coupon paid semi-annually. The coupon interest will be determined through a tender during the placement.
Proceeds from the bond placement will be used for the purpose of implementing the Company�s general administrative activities, including debt repayment and investment in production projects in Russia and abroad.
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"Es gibt tausende Möglichkeiten, sein Geld auszugeben, aber nur zwei, es zu erwerben: Entweder wir arbeiten für Geld oder das Geld arbeitet für uns."
Bernhard Baruch
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