NOVATEK in $1 Billion Debt Offering

December 13, 2012

Cleary Gottlieb represented OAO NOVATEK in a $1 billion Regulation S/Rule 144A offering of 4.422% loan participation notes due 2022 issued by Novatek Finance Limited for the sole purpose of making a loan to OAO NOVATEK. The transaction closed on December 13. The notes are listed on the Irish Stock Exchange.

OAO NOVATEK is Russia’s largest independent gas producer and second-largest natural gas producer after Gazprom. Its shares are listed on the Moscow Exchange, and its Global Depositary Receipts are listed on the London Stock Exchange.