MOSCOW, July 3 (Reuters) - Russia's gas export monopoly, Gazprom, plans to issue a Eurobond in two tranches denominated in dollars and euros and worth up to $2 billion in total, banking sources told Reuters on Friday.
The monopoly plans to channel part of the proceeds to its oil arm, Gazprom Neft, to help it finance a buying spree
'For the dollar denominated tranch the bookrunners are JP Morgan and Morgan Stanley and for the euro-denominated, it's BNP Paribas and Societe Generale,' one source in a major Western bank said.
A second source in a major Russian bank confirmed the plans, adding that the final size and duration for the both tranches will depend on market conditions.
Gazprom, which supplies a quarter of Europe's gas, is Russia's most indebted company, with debt of over $40 billion. This year it has to make principal and interest payments totalling around 380 billion roubles ($12.04 billion), of which 60 billion roubles have been already refinanced.
Gazprom last tapped the international debt market in April when it sold a $2.25 billion 10-year bond at 9.25 percent.
(Reporting by Oksana Kobzeva, writing by Dmitry Sergeyev; Editing by David Cowell) Keywords: GAZPROM EUROBOND/ (dmitry.sergeev@reuters.com; Tel: +7495 7751242, Reuters Messaging: dmitry.sergeev.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The monopoly plans to channel part of the proceeds to its oil arm, Gazprom Neft, to help it finance a buying spree
'For the dollar denominated tranch the bookrunners are JP Morgan and Morgan Stanley and for the euro-denominated, it's BNP Paribas and Societe Generale,' one source in a major Western bank said.
A second source in a major Russian bank confirmed the plans, adding that the final size and duration for the both tranches will depend on market conditions.
Gazprom, which supplies a quarter of Europe's gas, is Russia's most indebted company, with debt of over $40 billion. This year it has to make principal and interest payments totalling around 380 billion roubles ($12.04 billion), of which 60 billion roubles have been already refinanced.
Gazprom last tapped the international debt market in April when it sold a $2.25 billion 10-year bond at 9.25 percent.
(Reporting by Oksana Kobzeva, writing by Dmitry Sergeyev; Editing by David Cowell) Keywords: GAZPROM EUROBOND/ (dmitry.sergeev@reuters.com; Tel: +7495 7751242, Reuters Messaging: dmitry.sergeev.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.