Gazprom placed an issue of Eurobonds worth € 500 million for a period of 7 years at a coupon rate of 1.85%, Denis Shulakov, First Vice President of Gazprombank, one of the organizers of the placement, told Vedomosti.
“On November 9, Gazprom placed Eurobonds worth EUR 500 million for a period of 7 years at a coupon rate of 1.85% with a listing on the Irish Stock Exchange (Euronext Dublin),” he said.
According to Shulakov, Gazprom’s management has chosen a favorable window for the placement of a new issue of Eurobonds at the time of renewed positive sentiment in the markets due to the correction of base rates.
Gazprom placed this issue at a historically low coupon rate in euros for a period of 7 years among its own Eurobond issues, added the first vice president of Gazprombank. The coupon rate has also become historically low among 7-year Eurobonds for corporate borrowers from Russia and the CIS.
The placement was attended by investors from the UK, Germany, France, Switzerland, the Netherlands, the USA, Asia and Russia. The demand from international investors has exceeded 80% of the total volume of applications. A total of 145 investors submitted applications.
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