Russia's First Eurobond in 2016 Is a Sellout in Market
- Gazprom raised CHF500 million with 3.375 percent coupon
- Gas producer started marketing the bond at 3.625 percent area
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Gazprom PJSC, the world’s largest natural-gas producer, saw investor demand exceed four times the offer size as it tapped the Swiss capital market with the first benchmark foreign bond sale from Russia this year.
The state-run gas monopoly raised 500 million Swiss francs ($505 million) of notes due Nov. 30, 2018 with coupon of 3.375 percent, according to a person familiar with the deal who asked not to be identified because the information is private. Both new and regular investors bought the securities, Dmitry Gladkov, the global head of debt capital markets at co-manager Renaissance Capital said by phone.