By Christine Van Dusen
Atlanta, March 13 - Russia's OJSC Gazprom priced a combined €1.5 billion of notes due in 2020 and 2025 (Baa1/BBB/BBB), with both tranches coming to the market at par.
Credit Agricole, Gazprombank and JPMorgan were the bookrunners for the Regulation S deal.
The deal included €1 billion 3.389% notes due March 20, 2020 that priced at par to yield 3.389%, or mid-swaps plus 210 basis points. The notes were talked at mid-swaps plus the 215 bps area.
The second tranche totaled €500 million 4.364% notes due March 21, 2025 that priced at par to yield 4.364%, or mid-swaps plus 240 bps.
The notes were talked at a spread in the mid-swaps plus 245 bps area.
Gazprom is a Moscow-based global energy company.
| Issuer: | OJSC Gazprom
|
| Amount: | €1.5 billion
|
| Description: | Loan participation notes
|
| Bookrunners: | Credit Agricole, Gazprombank, JPMorgan
|
| Trade date: | March 13
|
| Settlement date: | March 20
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB
|
| Fitch: BBB
|
| Distribution: | Regulation S
|
|
|
| Notes due 2020
|
| Amount: | €1 billion
|
| Maturity: | March 20, 2020
|
| Coupon: | 3.389%
|
| Price: | Par
|
| Yield: | 3.389%
|
| Spread: | Mid-swaps plus 210 bps
|
| Price talk: | Mid-swaps plus 215 bps area
|
|
|
| Notes due 2025
|
| Amount: | €500 million
|
| Maturity: | March 21, 2025
|
| Coupon: | 4.364%
|
| Price: | Par
|
| Yield: | 4.364%
|
| Spread: | Mid-swaps plus 240 bps
|
| Price talk: | Mid-swaps plus 245 bps area
|
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