NOVATEK in 14 Billion Rouble Debt Offering

February 19, 2013

Cleary Gottlieb represented OAO NOVATEK in a 14 billion Rouble Regulation S/Rule 144A offering of 7.75% loan participation notes due 2017 issued by Novatek Finance Limited for the sole purpose of making a loan to NOVATEK. The transaction closed on February 19, and the notes are listed on the Irish Stock Exchange. This transaction follows Novatek’s $1 billion Regulation S/Rule 144A debt offering in December 2012, in which we also served as counsel to Novatek.

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.