By Reshmi Basu
New York, Aug. 11 - Russia's state-controlled gas producer, OAO Gazprom, said it sold a 5 billion ruble offering of four-year bonds Thursday.
The oversubscribed issue will bear a 6.95% coupon and a yield of 7.07%, according to a market source.
The Moscow-based company said this was the lowest yield ever given by a Russian corporate bond with a similar maturity.
Proceeds from the sale will be used for capital expenditures, for new projects and for short-term debt refinancing.
Investors placed 158 bids for the total of 12 billion ruble.
Renaissance Capital Investment Group and Rosbank were lead managers.
| Issuer: | OAO Gazprom
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| Amount: | 5 billion rubles
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| Issue: | Series A6 bonds
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| Maturity: | Four years
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| Coupon: | 6.95%
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| Yield: | 7.07%
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| Lead managers: | Renaissance Capital Investment Group, Rosbank
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