By Paul A. Harris
Portland, Ore., Nov. 14 – PJSC Gazprom priced €1 billion of 2.949% five-year loan participation notes (Baa3/BBB-/BBB-) at par to yield 2.95% on Tuesday, according to a market source.
The yield printed at the tight end of final yield talk of 3%, plus or minus 5 basis points. Initial price talk was 3 1/8%.
Joint bookrunner JPMorgan will bill and deliver. Gazprombank and UniCredit were also joint bookrunners.
The deal played to €1.4 billion of orders, including €100 million from the joint bookrunners, according to the market source.
Gazprom is a Moscow-based natural gas producer.
| Issuer: | Gaz Capital SA
|
| Amount: | €1 billion
|
| Maturity: | Jan. 24, 2024
|
| Securities: | Loan participation notes
|
| Bookrunners: | JPMorgan (bill and deliver), Gazprombank, UniCredit
|
| Coupon: | 2.949%
|
| Price: | Par
|
| Yield: | 2.95%
|
| Trade date: | Nov. 13
|
| Settlement date: | Nov. 16
|
| Ratings: | Moody's: Baa3
|
| S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | Regulation S
|
| Price talk: | 3%, plus or minus 5 bps
|
| Listing: | Dublin Stock Exchange
|
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