Gazprom to issue $400m in Eurobonds

At its next meeting the Board of Directors of Gazprom may make a decisionto issue additionally $400m in Eurobonds in early fall of 2002. As a sourceclose to the Board of Directors of the company reported to RBC, thisadditional issue may take place in September already. Additionally, theBoard of Directors of the Russian gas holding will consider issuing asecond tranche of Eurobonds in the amount of up to $750m. This Eurobondissue is expected to have a much longer term of circulation. As it was reported earlier, in April 2002 Gazprom placed its first Eurobondissue of $500m with a coupon of 9.125 percent annually. The lead managersof this Eurobond issue were Credit Suisse First Boston and SchroederSalomon Smith Barney. According to the terms of the Eurobond issue, thedate of issuing bonds is April 25, 2002, while the redemption date is April25, 2007. .

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