The issue, approved by the Rosneft board of directors, will be offered to investors in three installments of 15 billion rubles ($600 million) each. Series one and two non-convertible interest-bearing documentary bonds will have a five-year maturity, while the third installment will mature in seven years, the press office said.
The bond issue will be managed by Gazprombank, VTB and the Troika Dialog brokerage.
In March, Rosneft obtained a $22 billion loan to buy the assets of the-now-bankrupt oil company Yukos. The purchase enabled the crude producer to become a leading company in the Russian oil industry.
Rosneft also said it intended to boost oil output by 24.5% to 100.6 million metric tons (737 million barrels) in 2007.
