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Gazprom floats seven-year Eurobonds worth 750 mln euro

November 16/ 08:04

Moscow. Russian gas holding Gazprom floated seven-year Eurobonds amounting to 750 mln euro with the rate of 2.25% per annum, First Vice President of Gazprombank Denis Shulakov told TASS on Wednesday.

"This is the lowest coupon rate for Russian issuers in any currency with the term of seven years. It is a landmark offering for the whole market made by Gazprom - a new record against highly diversified demand," Shulakov said.

European investors (net of the United Kingdom) purchased about 57% of Eurobonds, with Germany accounting for 16%, the banker said. Swiss investors purchased 8.6% of securities. Italian investors bought 4.4% of Eurobonds. The UK investors bought securities worth 50 mln euro or 6.7% of the offering. Russians acquired 31.8% of Eurobonds. Investors from the United States and Taiwan purchased 4% and 0.5% of the issue respectively. Banks purchased 54% of the offering and investment funds bought 42%, Shulakov noted.

The bid book was opened in the morning on Wednesday. The initial yield guidance was 2.5% and was reduced later to 2.25-2.375% per annum. Gazprom started meetings with investors in the United Kingdom and Germany for floating of Eurobonds on November 13.

The Russian gas holding already floated securities amounting to $750 mln, 850 mln pounds sterling and 500 mln Swiss francs earlier this year

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