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Russia's Gazprom expected to bring up to $2 billion bonds during November
By Paul A. Harris
St. Louis, Nov. 9 - OAO Gazprom, the world's largest gas producing company, is expected to launch a eurobond offering of up to $2 billion in November, according to market sources.
No syndicate names have been released; however, Citigroup is expected to have a prominent role in managing the deal, sources said.
The company will use the proceeds from the issue to repay bridge loans it obtained to finance the $13.1 billion acquisition of a controlling interest in Sibneft.
Moody's Investors Service assigns its Baa2 foreign currency rating to Gazprom. Standard & Poor's and Fitch foreign currency ratings are BB and BB+, respectively.
Gazprom is based in Moscow.
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