Gazprombank to issue eurobonds before September 2002

Gazprombank will issue eurobonds in the amount of EUR200 million with a term of five years, Y.Lvov, Chief Executive Officer of the bank, reported to journalists today. As it was previously reported by the bank's CEO, the first tranche of Gazprombank's eurobonds was issued in December 2001. The term of those eurobonds was two years, while their yield was less than 10 percent annually. The funds attracted with the help of that eurobond issue were used for providing credit resources.

The scheme of the second eurobond issue, as the bank's CEO was quoted as saying, will be similar to that of the first issue: the funds will be attracted by the bank's subsidiary located in Holland, while the bank itself will provide a 100 percent guarantee of the issue The lead manager of the second eurobond tranche will be Deutsche Bank, while its co-organizers will be ABN Amro and Paribas. According to Gazprombank's CEO, the bank will seek to sustain the rate of return of its eurobonds at the level of the five-year Gazprom's eurobonds that were issued in the amount of $500 million - 9.125 percent annually. On the other hand, the Chairman of the bank's Executive Board did not rule out the possibility that the market would "ask" for some premium to that rate of return, which will turn out to be higher for Gazprom.


&to=' target=_blank>GAZPROMBANK

Subscribe to Pravda.Ru Telegram channel, Facebook, RSS!

Author`s name Editorial Team