Rosneft woes no block for $2bn Gazprom

By Ross Lancaster
19 Feb 2020

Gazprom returned to the Eurobond market for the first time in a year on Tuesday, pulling in $4bn of orders at one stage in the pricing process, despite the US sanctioning a Rosneft subsidiary.

Deal arrangers, JP Morgan, Gazprombank and UniCredit, announced initial price thoughts for the benchmark 10 year trade of 3.625% area on Tuesday.

Gazprom (rated Baa2/BBB-/BBB) had roadshowed for the deal with stops in London and the US. That investor engagement seemed to have paid off as the deal’s ...

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