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Russia's Novatek needs no borrowings in mid-term — CEO

June 16, 2016, 10:38 UTC+3
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ST. PETERSBURG, June 16. /TASS/. Novatek needs no borrowing in the nearest future, the company’s CEO and co-owner Leonid Mikhelson said on the sidelines of the St. Petersburg International Economic Forum (SPIEF-2016) on Thursday.

"We do not need borrowings in the mid-term," he said when asked whether Novatek considers potential bond issuance this year.

Russia's largest independent gas producer plans to use the second tranche on Sberbank and Gazprombank loans within a month.

"We’ve used the first tranche. I think within a month," he said when asked when the company may use the second tranche.

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