Russia's Gazprom sets talk for two-part offering of bonds; pricing Thursday

By Reshmi Basu

New York, Feb. 28 - Russian state-controlled gas monopoly OJSC Gazprom (A3/BBB/BBB-) announced initial price talk for its benchmark-sized two-part offering of global bonds, according to a market source.

Guidance for the euro-denominated tranche of 10-year bonds was set at mid-swaps plus 125 to 130 basis points.

Meanwhile talk for the dollar-denominated tranche of 15-year bonds was set in the area of Treasuries plus 195 bps.

Credit Suisse and Morgan Stanley are joint bookrunners for the Rule 144A and Regulation S transaction.

Pricing is expected to take place on Thursday. Books were scheduled to close Wednesday.

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