Russia's biggest energy company, OAO Gazprom (GAZP.RS), will for the first time allow investors to exercise put options on the company's ruble-denominated bonds, the daily Vedomosti reported Tuesday.
The newspaper, citing Gazprom's announcement, said that the decision was made because of the substantial decline in ruble's value and virtual lack of activity in the ruble bond market.
The put options on the bonds will total 15 billion rubles ($414.6 million).