Gazprom, VTB Eye Bonds

By The Moscow Times

June 17, 2013

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)

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