Gazprom guides euro-denominated five-year notes to yield 3% area

By Rebecca Melvin

New York, Nov. 13 – Russia’s PJSC Gazprom has guided pricing for a planned benchmark-sized offering of dollar-denominated five-year loan participation notes to yield in the 3% area, plus or minus 5 basis points. Final terms are expected later Tuesday, according to a market source.

Pricing was tightened from initial price thoughts in the 3 1/8% area.

The notes, being issued by Gaz Capital SA, are being marketed by Gazprombank, JPMorgan and UniCredit as joint lead managers and bookrunners.

The Regulation S notes will be listed on the Dublin Stock Exchange.

Gazprom is a Moscow-based natural gas producer.

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