Russia's Gazprombank mandates UBS to lead $1 billion European commercial paper

By Paul A. Harris

St. Louis, Feb. 16 - GBP Finance plc, a unit of Russia's Gazprombank, has mandated UBS to lead the sale of $1 billion of European commercial paper, according to an informed source.

Marketing of the paper is expected to begin late this week or early next week.

The paper will be sold via Regulation S and will not be sold into the United States.

The paper is expected to be listed on the Irish Stock Exchange.

Gazprombank, with headquarters in Moscow, is the joint stock bank of the Russian gas industry.

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