Gazprom success underlines EM corporate allure

Despite a woeful underlying market, the first Eurobond from a Russian company since July — a dual tranche powerplay from Gazprom — generated as much as $3.5bn in orders to underscore buoyant demand for strong emerging market corporate credits. Bankers expect more EM names to follow the Baa1/BBB/BBB rated energy giant’s tightly priced $1.6bn package.