Russia's Gazprombank buys back $148.15 million of subsidiary's bonds

By Angela McDaniels

Tacoma, Wash., June 23 - Gazprombank OJSC has purchased $148,149,000 of bonds issued by subsidiary GPB Eurobond Finance plc and tendered those bonds to the subsidiary for cancellation, according to a news release from GBP Eurobond Finance.

The bank purchased $78,745,000 of the $700 million floating-rate loan participation notes due 2010, $56,709,000 of the $500 million 7.933% loan participation notes due 2013 and $12,695,000 of the $1 billion 6.5% loan participation notes due 2015 issued by GPB Eurobond Finance.

As of June 19, $578,705,000 of the floating-rate notes, $443,291,000 of the 7.933% notes and $948,201,000 of the 6.5% notes remained outstanding.

Gazprombank is a Moscow-based bank of the gas industry and a subsidiary of Russian energy giant Gazprom.

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