Gazprom Neft lowers guidance on rouble bond -sources
MOSCOW, July 16 (Reuters) - Gazprom Neft (SIBN.MM), Russia's fifth biggest oil firm, lowered guidance on its 8 billion rouble ($250 million) bond after closing order books early on strong demand, sources close to the issue organisers said on Thursday.
Russia's domestic bond market was severely hit by the stock market collapse last year and rouble devaluation but has come back to life now due to solid demand from investors seeking to benefit from central bank rate cuts and a stronger rouble.
The coupon guidance is now set at 14.75-15.00 percent, two sources said, compared to a 15.00-15.75 percent range set earlier. The final price will be set before 1600 GMT on Friday.
The seven-year bond, which carries a three-year put option, was at least three times oversubscribed and the company closed order books on Thursday, one day ahead of schedule, they said.
Renaissance Capital and Gazprombank are arranging the issue.
In April, Gazprom Neft, the oil arm of gas giant Gazprom (GAZP.MM), placed its debut 10 billion rouble bond with an annual coupon of 16.70 percent. [ID:nLH632334] ($1=32.04 roubles) (Reporting by Melissa Akin and Oksana Kobzeva; Writing by Maria Kiselyova; Editing by Greg Mahlich)
