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Russia's Gazprom $1 billion 15-year notes talked at 7½%, books at $ 4 billion
By Reshmi Basu
New York, July 21 - Gazprom has set price guidance for its expected $1 billion offering of 15-year notes (-/BBB-/BBB-) at a yield of 7½%, according to market sources.
The book size is already at $4 billion, the source added.
The bonds, which will be secured with gas export receivables, will have a 7.4-year average life.
ABN Amro Holding NV, Merrill Lynch & Co. and Morgan Stanley are running the deal.
Gazprom, based in Moscow, is the world's largest natural gas producer.
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