Gazprom tests market but observers sceptical

April 15, 2009 12:00 am

Gazprom is rumoured to be testing investor appetite with price talk of 9.25%-9.5% for its Reg S/144A 10 year non-put three year dollar eurobond. Observers, however, are divided as to whether the seemingly tight price talk offers value. Some think the value of the option, in light of the continuing rally in emerging market debt, justifies the levels, while others regard it as too tight. Read EuroWeek on Friday for full details of the keenly watched deal.

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