5.5. BONDS AND CREDITING RATINGS OF THE COMPANY

IN 2015, THE COMPANY CREDIT RATINGS WERE AT THE LEVEL OF SOVEREIGN CREDIT RATING OF THE RUSSIAN FEDERATION.

As part of Eurobonds program totalling USD 10 bln Rosneft placed 2 bond issues in 2012: USD 1 bln maturing in 2017 and USD 2 bln maturing 2022. During 2006-2010 ex TNK-BP subsidiaries placed 8 eurobond issues totaling USD 5.5 bln maturing 2011-2020. Of which as of December 31, 2015 there were 4 issues outstanding totalling USD 3.4 bln.

The Company implemented three ruble bond programs as part of which 33 issues totalling RUB 1,190 bln were placed, including eight issues totalling RUB 400 bln placed in 2015.

The Company is one of the largest high-quality Russian borrowers

Par value, mln	Curreny	Coupon	Series / issue number	Date placed	Date redeemed	Issuer
EUROBONDS
1,000	USD	7.5 %	Series 2	July 2006	July 2016	Rosneft Finance S. A.
800	USD	6.625 %	Series 4	March 2007	March 2017	Rosneft Finance S. A.
1,100	USD	7.875 %	Series 6	October 2007	March 2018	Rosneft Finance S. A.
500	USD	7.25 %	Series 8	February 2010	February 2020	Rosneft Finance S. A.
1,000	USD	3.149 %	Series 1	December 2012	March 2017	Rosneft International Finance Ltd.
1,000	USD	3.149 %	Series 2	December 2012	March 2022	Rosneft International Finance Ltd.
RUB BONDS
20,000	RUB	8.6 %	Series 04, 05	October 2012	October 2022	Rosneft
30,000	RUB	8 %	Series 07, 08	March 2013	March 2023	Rosneft
40,000	RUB	7.95 %	Series 06, 09, 10	Июнь 2013	May 2023	Rosneft
40,000	RUB	7.95 %	Series БО-05, БО-06	December 2013	December 2023	Rosneft
35,000	RUB	8.9 %	Series БО-01, БО-07	February 2014	February 2024	Rosneft
225,000	RUB	11.9 %*	Series БО-02, БО-03, БО-04, БО-08, БО-09, БО-10, БО-11, БО-12, БО-13, БО-14	December 2014	November 2024	Rosneft
400,000	RUB	13.4 %*	Series БО-15, БО-16, БО-17, БО-24	December 2014	December 2020	Rosneft
400,000	11.9 %*	8.6 %	Series БО-18, БО-19, БО-20, БО-21, БО-22, БО-23, БО-25, БО-26	January 2015	January 2021	Rosneft

* Coupon rate effective on December 31, 2015.