Source Pravda.Ru

Gazprom places additional $200m Eurobond tranche on October 23

Gazprom, a Russian gas giant, placed an additional $200m tranche of its Eurobonds on October 23, 2002. As the press service of the gas holding reported, this issue took place within the framework of the company's second Eurobond issue according to the 'S' rule that was placed on October 8, 2002 and totaled $500m. The rate of return of the Eurobond issue is 10.5 percent a year, while the redemption date is 2009. The price of the additional Eurobond tranche was 100.625 percent of the nominal value. The average rate of return of the entire $700m Eurobond issue is 10.46 percent a year.

The company's Eurobond issue took place owing to the high demand from the current and new investors who submitted applications for a new Eurobond issue of Gazprom, the press service reported. In view of this, Gazprom confirmed its previous statements, according to which the company is not planning to issue Eurobonds until 2003.

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