ENP Newswire - 19 December 2013 Release date- 18122013 - Rosneft announces that it has started early repayment of a part of the loan obtained earlier from a group of international banks to finance TNK-BP acquisition. Early repayment of the loans obtained to finance TNK-BP acquisition before the due time established by the relevant loan documents became possible due to the Company's responsible financial policy and significant generation of liquidity which allows the Company to meet its business plan goals. Rosneft President Igor Sechin said: 'Early repayment of the loan once again proves the efficiency of Rosneft's business model. Over the past five quarters, the Company operational cash flow allowed us to finance investments without any borrowings. Such result was achieved amid oil and gas production increase and efficient integration of the new acquisitions. The Company cash generating ability will grow as the new projects are developed, thus promoting, in its turn, further optimization of the debt portfolio and debt level reduction. We should note our efficient partnership with the international banking community and our responsible attitude to the commitments we accepted.' Contact: Tel: +7 (499) 517 88 97 www.rosneft.com These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements. [Editorial queries for this story should be sent to email@example.com ] ((Comments on this story may be sent to firstname.lastname@example.org ))
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