Russia's Gazprom to issue euro-, dollar-denominated notes

By Reshmi Basu

New York, May 17 - OJSC Gazprom, via its special purpose vehicle Gaz Capital SA, will issue dual tranches of euro- and dollar-denominated notes (Baa3/BB-/BB), according to a market source.

The loan participation notes will carry a maturity of seven to 10 years. The size of the offering is not known at this time.

ABN Amro and Credit Suisse First Boston are running the Rule 144A/Regulation S deal.

The proposed offering is under Gaz Capital's $5 billion euro medium-term notes program. Gazprom will guarantee the notes.

Pricing is expected to take place after the completion of the roadshow, which wraps up in Paris, Geneva and Zurich on Thursday.

The Moscow-based company is the world's largest natural gas producer.

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