By Susanna Moon
Chicago, Aug. 1 – PJSC Gazprom priced RUB 40 billion of 8.1% 30-year notes to yield 8.26%.
The bookbuilding began July 24 with initial coupon guidance of 8.1% to 8.25%, according to an announcement.
The offering drew more than 50 bids from a wide group of investors for a total of about RUB 55 billion, the release noted.
“The strong interest from the investment community enabled the company to set the final coupon rate at 8.1%,” the release said.
The final spread to OFZ (the zero-coupon yield curve for federal loan bonds for seven years) was 54 basis points.
Gazprombank, VTB Capital, Renaissance Capital and Sberbank CIB are the arrangers.
“The value of the deal hit the historic high in terms of volume both among Gazprom's and other Russian corporate bond offerings with a seven-year maturity,” the company said.
Moscow-based Gazprom is Russia’s largest state-owned energy company.
| Issuer: | PJSC Gazprom
|
| Issue: | Notes
|
| Amount: | RUB 40 billion
|
| Maturity: | 30 years
|
| Coupon: | 8.1%
|
| Yield: | 8.26%
|
| Initial guidance: | 8.1% to 8.25%
|
| Spread: | 54 bps to OFZ
|
| Put option: | Seven years
|
| Arrangers: | Gazprombank, VTB Capital, Renaissance Capital and Sberbank CIB
|
| Placement agent: | Gazprombank
|
| Settlement date: | July 31
|
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