Support The Moscow Times!

Gazprom, VTB Eye Bonds

Gazprom and state development lender Vnesheconombank (VEB) may place a Eurobond in July, two banking sources said Monday.

The sizes of the possible issues have not been disclosed.

One of the sources said Gazprom may place an issue denominated in British pounds while VEB is looking at an issue in U.S. dollars. Gazprom is to redeem an 800 million pound Eurobond issue in October.

The bonds could follow an expected Eurobond placement by Russia.

Debt markets have been jittery on the back of uncertainty over the U.S. Federal Reserve's stimulus plans.

"It's not a sure thing that the conditions for placement would be better in the second half of the year. Volatility could subside but the market may freeze on new, less comfortable, levels," a source said.

(Reuters)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.