Gazprombank plans to place up to $1 bln in Eurobonds in H2 2012 - deputy chief
MINSK. March 23 (Interfax) - Gazprombank plans to place up to $1 billion in Eurobonds in the second half of 2012, Deputy Chairman of the Managing Board of Gazprombank Alexander Sobol told journalists in Minsk on Friday.
"This year, there are plans for one Eurobonds issue at up to $1 billion. This will most likely be in the second half of this year," he said.
The bank held a roadshow in December 2011 and started collecting investor applications for five-year Eurobonds with yield from 7%. However, the transaction did not take place because of market volatility owing to political pressures. The bank decided to delay the issue. Gazprombank planned to place Eurobonds within the indicative amount according to Reg S. For the bank this means at least $500 million. Credit Agricole, GPB Financial Services, Goldman Sachs and Mitsubishi UFJ are the organizers.
At the start of November 2011, Gazprombank went to foreign borrowing markets with two-year Eurobonds worth 350 million Swiss francs. The bonds' yield at placement came to 4.3%. Barclays Capital, UBS and Gazprombank (Switzerland) Ltd were the issue organizers.