Bloomberg News

Gazprom Seen Pricing Euro Bond at 270 BPS Over Mid-Swaps

July 11, 2012

OAO Gazprom, the world’s largest gas producer, is selling 750 million euros ($918 million) of five- year bonds at 270 basis points over mid-swaps, according to a banker with knowledge of the transaction.

Gazprom is also selling $1 billion of 10-year dollar bonds priced to yield 4.95 percent, the banker said. JPMorgan Chase & Co., Credit Agricole SA (ACA) and OAO Gazprombank are organizing the sale, said the banker, who asked not to be identified because details of the sale weren’t public.

The gas producer’s 2017 euro-denominated bonds yield 3.842 percent, down from 5.283 percent at the start of the year and two basis points off a July 9 record low of 3.8203 percent. The company’s $1.3 billion of dollar debt due in March 2022 yielded a record low 4.933 percent today, according to data compiled by Bloomberg. That’s down from 6.255 percent at the start of the year.

To contact the reporters on this story: Denis Maternovsky in Moscow at dmaternovsky@bloomberg.net; Jack Jordan in Moscow at jjordan22@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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