Published on 3/30/2017 in the Prospect News Emerging Markets Daily.
New Issue: Russia’s Gazprom sells £850 million 4¼% seven-year loan-participation notes at par
By Christine Van Dusen
Atlanta, March 30 – Gazprom OJSC – via Gaz Capital SA – priced £850 million seven-year loan-participation notes (Ba1/BB+/BBB-) at par to yield 4¼% on Wednesday, according to a company announcement.
JPMorgan, Deutsche Bank, Gazprombank and VTB Capital were the bookrunners for the Regulation S deal.
The proceeds will be used to finance a euro loan to PJSC Gazprom, which will be used for general corporate purposes.
Gazprom is a Moscow-based natural gas producer.
| Issuer: | Gaz Capital SA
|
| Amount: | £850 million
|
| Maturity: | April 6, 2024
|
| Description: | Loan participation notes
|
| Bookrunners: | JPMorgan, Deutsche Bank, Gazprombank, VTB Capital
|
| Coupon: | 4¼%
|
| Price: | Par
|
| Yield: | 4¼%
|
| Trade date: | March 29
|
| Settlement date: | April 6
|
| Ratings: | Moody’s: Ba1
|
| S&P: BB+
|
| Fitch: BBB-
|
| Distribution: | Regulation S
|
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