16 Nov 2010 16:55

Guidance on 5-yr Gazprom notes 340-350 bp above swaps - sources

MOSCOW. Nov 16 (Interfax) - Yield guidance on five-year Eurobonds being offered by Gazprom is 340-350 basis points above mid-market swaps, sources in banking circles told Interfax.

This corresponds to yield of 5.12%-5.22% pa.

Gazprom plans to place $1 billion in dollar-denominated bonds.

The bid book for the Eurobonds closes on Tuesday.

It was earlier reported that Gazprom commenced the roadshow for the issue on Monday.

JP Morgan and Calyon were made the issue's organizers.

Gazprom's last entry on the foreign debt market took place in July 2009 when it place $1.25 billion and 850 million euro in Eurobonds with yield at 8.125%. BNP Paribas