Russia’s Gazprom raises 850 mln pounds via Eurobond

Gazprom
Gazprom

Russian gas giant Gazprom has raised 850 million pounds ($1.05 billion) through a Eurobond, two sources close to the deal told Reuters on Wednesday.

Gazprom has set the yield at 4.25 percent for its seven-year sterling benchmark bond, IFR, a Thomson Reuters news and market analysis service, reported earlier.

Gazprom has mandated Deutsche Bank, Gazprombank, JP Morgan and VTB Capital as lead managers.

A deal in sterling would cement the company’s return to its main international funding markets, which also include euros, U.S. dollars and Swiss francs.

Earlier this month, Gazprom sold its first bond denominated in U.S. dollars since autumn 2014, a $750 million ten-year issue.

The company has an external borrowing plan for 2017 of 288.26 billion roubles ($5.1 billion).

($1 = 0.8059 pounds) ($1 = 56.7945 roubles)

Report by Reuters

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