Revenues from Gazprom's loan bond issue totaling 5bn rubles ($157m) will be directed to implementing the gas holding's two large projects, Andrey Kruglov, head of the corporate development department, declared at a presentation of the issue in Moscow today. According to him, these are the construction of the gas pipeline Yamal-Europe, whose construction is to be finished in 2003, and the project on exploring the Zapolyarnoye gas field. Some funds are to be spent on other corporate activities, he added.
As it was reported earlier, the issue of Gazprom's loan bonds is to take place at the Moscow Interbank Currency Exchange on November 19, 2002. The issue's volume is 5bn rubles. A bond's par value is 1,000 rubles ($31.42). The maturity period is 1,080 days. Gazprombank is the payment agent of the issue.