• BIST 106.239
  • Altın 161,321
  • Dolar 3,8713
  • Euro 4,5671
  • İstanbul 15 °C
  • Ankara 2 °C

First tranche to be $500 million

First tranche  to be $500 million
Gazprom, is set to launch a commercial paper programme next week, with the first tranche likely to be $500 million.

Gazprom, is set to launch a commercial paper programme next week, with the first tranche likely to be $500 million.

Russia's most indebted company, energy giant Gazprom, is set to launch a commercial paper programme next week, with the first tranche likely to be $500 million, banking sources told. "Next week Gazprom begins meetings with investors. It will collect subscribers and will set the terms, volumes and yield of the tranche," a source said.

Another source said the first tranche of the paper -- a new way of financing for Gazprom -- would have a three-month maturity. "We will look at the real demand, the market now is great, but Gazprom doesn't really need money that badly. It just wants to try a new instrument of financing," the banker said.

Moody's assigned Prime-2 rating to the commercial paper programme, which is worth a total of $4 billion.

Last time Gazprom tapped the market was in July when it raised $1.275 billion and 825 million euros in heavily oversubscribed Eurobonds as investor appetite for emerging market risk brought a hefty cut in pricing rates.

Gazprom, whose debt is estimated at over $40 billion excluding Gazprombank, has over 20 outstanding bond issues.

www.TurkishMaritime.com.tr

This news is a total 1659 time has been read
  • Comments 0
    UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
    Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
    Bu habere henüz yorum eklenmemiştir.
Other News
All Rights Reserved © 2006 TURKISH MARITIME | İzinsiz ve kaynak gösterilmeden yayınlanamaz.
Phone : 0090 212 293 75 48 | Fax : 0090 212 293 75 49 |