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DUBLIN - LUKOIL Capital DAC announced Monday it will redeem its outstanding U.S. dollar-denominated notes in full on October 26, 2025, exercising its make-whole redemption option.
The redemption will include two note series: $1.15 billion of 2.80 percent notes due 2027 and $1.15 billion of 3.60 percent notes due 2031, according to a company statement. The notes are guaranteed by Russian oil major PJSC LUKOIL.
The redemption will be conducted in accordance with the terms and conditions set out in the trust deed constituting the notes. The company specified that the redemption excludes any notes previously designated as "Designated Notes" that have been cancelled or deemed cancelled.
LUKOIL Capital DAC, an Ireland-based financing vehicle for LUKOIL, issued the notes as part of the parent company’s international debt financing program.
The company advised noteholders to consult with financial or legal advisers regarding the implications of the redemption. The announcement was made through the London Stock Exchange’s news service.
The early redemption comes approximately two years before the maturity date of the first series of notes and about six years before the second series was set to mature.
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