Gazprom launches EUR900m five-year bond

Wed Jul 17, 2013 6:52am EDT

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LONDON, July 17 (IFR) - Gazprom, the Russian state-owned gas producer, has launched a EUR900m five-year bond at a yield of 3.7%, according to market sources.

Final terms came at the tight end of revised guidance of 3.75% area (plus or minus 5bp) and tight to initial price thoughts of 4%-4.125% announced on Wednesday morning.

Orders for the issue, which is rated Baa1/BBB/BBB, swelled past EUR5.5bn before books closed, with more than 450 accounts participating, one of the lead managers said.

Bank of America Merrill Lynch, Deutsche Bank, Gazprombank and JP Morgan are the lead managers on the transaction, which is expected to price today. (Reporting by Davide Scigliuzzo; Editing by Sudip Roy)

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