Gazprom's eurobond sees indicative guidance emerge

By Reshmi Basu and Paul A. Harris

New York, Dec. 1 - Gazprom's planned euro-denominated seven-year bond offering (Baa1//BB+) saw indicative price guidance surface Thursday, according to market sources.

One source said indicative guidance was set at mid-swaps plus 112 to 125 basis points.

Another source quoted indicative guidance at 120 basis points to 125 basis points.

ABN Amro and Credit Suisse First Boston are managing the sale for the natural gas company.

Moscow-based Gazprom will use the proceeds to repay bridge loans obtained in financing the $13.1 billion acquisition of Sibneft.

The roadshow is scheduled to end Friday.

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