MOSCOW, July 22 (Reuters) - Russian gas export monopoly Gazprom GAZP.MM has lowered the guidance on its five-year dollar-denominated eurobond tranche to 8.25 percent from 8.5 percent due to massive oversubscription, trading sources said on Wednesday.
“I heard the book is more than $6 billion,” a trading source in a Russian bank said.
“The price guidance was lowered due to good demand, the book is oversubscribed more than 2.5 times,” a trading source in Russian investment bank said. (Reporting by Dmitry Sergeyev and Oksana Kobzeva)
Our Standards: The Thomson Reuters Trust Principles.