Gazprom has placed six-year Eurobonds worth 1 billion euros at a record coupon rate of 1.5 percent. Denis Shulakov, first vice president of Gazprombank, announced this.
“On February 10, 2021, PJSC Gazprom placed a Eurobond issue worth 1 billion euros at a coupon rate of 1.50 percent for 6 years. The placement set a new record for the rate of borrowing in euros in international markets for PJSC Gazprom and all Russian corporate borrowers, “Shulakov said.
In addition, according to him, the historically minimal spread to sovereign Eurobonds of Russia, denominated in euros, has been reached at the initial placement – about 50 basis points. Shulakov added that the new issue These bonds were placed on better terms compared to last year: then the volume also amounted to 1 billion euros, but the coupon rate was 2.95 percent with a duration of five years.
The volume of the order book for new Eurobonds of Gazprom amounted to more than 2.45 billion euros. 210 investors from Germany, Switzerland, France and other countries of Continental Europe, Great Britain, USA, Asia and the Middle East, as well as Russia took part in the issue. The demand from international investors accounted for about 78 percent of the total order book.
“Thus, Gazprom continued to expand its presence in the international debt capital markets due to the consistent diversification of the investor base,” Shulakov stressed.
PJSC “Gazprom” regularly issues bonds. The total volume of its placements on the international market in 2021 already amounted to $ 3.2 billion, taking into account the issue of Eurobonds placed on January 20 in the amount of $ 2 billion at a rate of 2.95 percent for 8 years.