By Reshmi Basu
New York, Dec. 2 - Natural gas company OAO Gazprom sold €1 billion of seven-year bonds (Baa1/BB/BB+) at par to yield 4.56%, or mid-swaps plus 125 basis points, according to a market source.
The deal came at the wide end of revised price guidance, which was set at 120 to 125 basis points more than mid-swaps.
ABN Amro and Credit Suisse First Boston managed the Regulation S transaction through the company's special purpose vehicle, Gaz Capital SA.
Moscow-based Gazprom will use the proceeds to repay bridge loans obtained in financing the $13.1 billion acquisition of Sibneft.
| Issuer: | Gaz Capital SA
|
| Amount: | €1 billion
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| Issue: | Loan participation notes
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| Maturity: | Dec. 9, 2012
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| Coupon: | 4.56%
|
| Issue price: | Par
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| Yield: | 4.56%
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| Spread: | Mid-swaps plus 125 basis points
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| Pricing date: | Dec. 2
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| Settlement date: | Dec. 9
|
| Lead managers: | ABN Amro, Credit Suisse First Boston
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BB
|
| Fitch: BB+
|
| Revised price guidance: | 120 to 125 basis points more than mid-swaps
|
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