By Rebecca Melvin
New York, March 15 – Gaz Capital SA, a subsidiary of Russia’s PJSC Gazprom, priced €750 million eight-year notes at par to yield 2½%, according to an announcement on Thursday.
The notes had been talked at a duration of eight to 10 years, and a smaller deal size was anticipated, according to a market source.
J.P. Morgan Securities plc, Renaissance Capital, Deutsche Bank, Gazprombank and VTB Capital were the bookrunners for the Regulation S deal.
Moscow-based Gazprom is Russia’s largest state-owned energy company.
Issuer: | Gaz Capital SA
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Parent: | PJSC Gazprom
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Issue: | Notes
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Amount: | €750 million
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Maturity: | March 21, 2026
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Bookrunners: | J.P. Morgan Securities plc, Renaissance Capital, Deutsche Bank, Gazprombank and VTB Capital
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Coupon: | 2½%
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Price: | Par
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Yield: | 2½%
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Pricing date: | March 14
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Settlement date: | March 21
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Distribution: | Regulation S
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