New Issue: Gazprom prices $1.25 billion seven-year notes at par to yield 5.15%

By Rebecca Melvin

New York, Feb. 7 – Russia’s PJSC Gazprom priced $1.25 billion of 5.15% notes due 2026 at par, according to market sources.

Pricing, which occurred on Wednesday, came below guidance of 5.2% and initial talk in the area of 5 3/8%. Order books rose to more than $5 billion.

Gazprombank and JPMorgan were the 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.

Issuer:	PJSC Gazprom
Amount:	$1.25 billion
Maturity:	2026
Securities:	Notes
Bookrunners:	Gazprombank, JPMorgan, Banca IMI, Credit Agricole, Mizuho Securities, Renaissance Capital, SMBC Nikko and VTB Capital
Coupon:	5.15%
Price:	Par
Yield:	5.15%
Trade date:	Feb. 6
Distribution:	Rule 144A and Regulation S
Price talk:	Guided to 5.2% from 5 3/8% area

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