Gazprom talks seven-year dollar benchmark notes to yield 5 3/8% area

By Rebecca Melvin

New York, Feb. 6 – Russia’s PJSC Gazprom plans to price a benchmark-sized issue of seven-year dollar-denominated notes on Wednesday to yield in the area of 5 3/8%, according to a market source. Final terms are expected to be set later in the session.

Order books were more than $4 billion at the time price guidance was released.

Gazprombank and JPMorgan are joint global coordinators and bookrunners of the Rule 144A and Regulation S notes, and Banca IMI, Credit Agricole, Mizuho Securities, Renaissance Capital, SMBC Nikko and VTB Capital are joint lead managers and bookrunners.

The issuer is a Moscow-based natural gas producer.

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