By Aaron Hochman-Zimmerman
New York, Aug. 8 - OAO Gazprom priced an upsized $1.25 billion of 30-year senior unsecured notes (A3/BBB/BBB-) at par to with a coupon of 7.288% and a spread of 225 basis points over 30-year U.S. Treasuries, according to a market source.
The deal priced at the tight end of the initial guidance of 30-year Treasuries plus 225 to 230 bps and was increased from the originally expected $1 billion.
The guidance widened earlier in the day from 30-year Treasuries plus 220 to 225 bps.
ABN Amro and Morgan Stanley were the bookrunners for the Rule 144A and Regulation S deal.
The government controlled oil giant is based in Moscow.
| Issuer: | OAO Gazprom
|
| Amount: | $1.25 billion
|
| Issue: | 30-year senior unsecured notes
|
| Maturity: | Aug. 16, 2037
|
| Coupon: | 7.288%
|
| Price: | Par
|
| Yield: | 7.288%
|
| Spread: | 30-year Treasuries plus 225 bps
|
| Bookrunners: | ABN Amro, Morgan Stanley
|
| Pricing date: | Aug. 8
|
| Settlement date: | Aug. 16
|
| Rating: | Moody's: A3
|
| Standard & Poor's: BBB
|
| Fitch: BBB-
|
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