Russia's Gazprombank meets debt investors in South Korea

MOSCOW, July 29 Tue Jul 29, 2014 4:22am EDT

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MOSCOW, July 29 (Reuters) - Russia's Gazprombank met with South Korean debt investors for the first time last week as the threat of tougher sanctions arising from the crisis in Ukraine risks freezing it out of funding markets in Europe.

European Union governments are looking at banning European investors from buying new debt or shares of banks owned 50 percent or more by the Russian state.

While the new sanctions were being discussed in Brussels, Gazprombank held a two-day roadshow with fixed-income investors in Seoul.

It said the meeting was held in order to introduce it to Korea's largest investors, to develop its investor base in the Asia-Pacific region and in response to increasing economic and political cooperation between the two countries.

The two-day event "attracted substantial interest" from the Korean investors, Gazprombank said.

Gazprombank issued a 1 billion euro, five-year bond at the beginning of July to repay a bond maturing in December. European institutional investors bought most of the debt.

For a link to the press release here (Reporting by Oksana Kobzeva; writing by Carmel Crimmins and Megan Davies; editing by Tom Pfeiffer)

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