Gazprombank placing $750 mln in Eurobonds at 7.5%
MOSCOW. Sept 24 (Interfax) - Gazprom is placing $750 million worth of subordinated Eurobonds yielding 7.5%, a financial market source told Interfax.
The bonds mature in ten years and three months. There is a call option in five years and three months.
Gazprombank held a road show for the bonds in Hong Kong, Singapore, London, and Switzerland on September 16-18.
The bank's first vice president, Yekaterina Trofimova, told Interfax that the specifics of placement volume have not been established and will depend on market conditions.
The placement organizers are Barclays, BNP Paribas, BOC International, Goldman Sachs, Societe Generale CIB, and GPB-Financial Services Ltd, financial market sources told Interfax.
The head of the Gazprombank department for borrowing on capital markets, Ignat Dirks, announced late last month the bank's plans to place a benchmark Eurobond issue of from $500 million to $1 billion before this year is out.
Gazprombank had planned to place Eurobonds in July, but did not. The idea of placing in Swiss francs was discussed.
Gazprombank was the 3rd biggest Russian bank by assets as of the end of the first half of 2013 according to the Interfax-100 ranking compiled by the Center for Economic Analysis.
