All material subject to strictly enforced copyright laws. © 2022 Euromoney Institutional Investor PLC group
FIG

Gazprombank makes creative consent offer

Gazprombank began a consent solicitation late last week, asking bondholders for their permission to change the terms of a $1bn, 7.875% perpetual risk-adjusted capital (RAC) bond that it sold in 2012. The issuer is aiming to lengthen the maturity and to add write-down triggers, turning the deal into a mixture of grandfathered tier one and new tier two capital.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Take a Free Trial or Login
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree