Gazprom launches dual-tranche bond for USD1.7bn

LONDON, Jan 30 (IFR) - Russia's Gazprom, rated Baa1/BBB/BBB, has launched a dual-tranche bond for USD1.7bn, lead managers said.

The oil company launched a USD800m 7-year tranche at a yield of 3.85% and a USD900m 15-year tranche at a yield of 4.95%.

Pricing on the 144a/Reg S transaction is expected later today.

BNP Paribas, Gazprombank and JP Morgan are joint leads on the deal, while IFC Metropol is acting as co-manager. (Reporting by Davide Scigliuzzo; Editing by Sudip Roy)