Russia's Gazprom issues 5 billion rubles of three-year domestic bonds

By Reshmi Basu

New York, Oct. 12 - OAO Gazprom said it issued 5 billion rubles of three-year domestic bonds. The A5 series bonds carry a 7.58% coupon, which will be paid every 182 days.

The book order exceeded nine billion rubles. Of the 120 orders, 73 were fulfilled. The interest rate was set by auction.

Proceeds will be used to finance capital expenditures on the reconstruction of existing production capacities, to fund prospective projects and to refinance current debt.

Renaissance Capital Investment Group and OAO Rosbank arranged the issue.

The company approved the proposed series A4, A5 and A6 bond issue, worth 15 billion rubles, in late June. The Russian Federal Service for Financial Market registered the three issues in August. Series A4 and A6 will be sold in 2005.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.