Gazprom re-opens euro market for Russia as order book swells

12 Jul 2012

Gazprom this week sold the first euro denominated benchmark bond by a Russian issuer since 2009 as part of a dual tranche deal that took over $20bn of orders in total. The deal may open the euro market to other Russian names, said syndicate officials.

The €750m five year and $1bn 10 year bonds were arranged by JP Morgan, Crédit Agricole and Gazprombank.

"Gazprom had been looking at euros for some time as it has significant euro revenues, so there’s a natural business reason for wanting to raise funds in this currency," said one ...

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