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Gazprom will offer investors $2 billion worth of 10-year eurobonds, with a three-year put option and a 9.25 percent to 9.5 percent coupon, a bond trader said on Wednesday.
Gazprom has mandated Credit Suisse as the sole lead manager and will start marketing the issue the week of April 13, a banking source said. The transaction will be launched following presentations to investors in the United States and in London. Gazprom declined to comment.
"It is unlikely there will be many opportunities to borrow this year, so the company is rushing to borrow while the market is hot," Mikhail Galkin, analyst an MDM-Bank said.
BNP Paribas, lead manager of Gazprom's recent Swiss franc issue, said Wednesday that it increased the size of the issue by 100 million to 500 million francs. Analysts said it was a sign of greater appetite for Gazprom debt.
Gazprom Said to Offer $2Bln in Bonds
09 April 2009
Reuters
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