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RUSSIA: GAZPROM APPROVES 10 BILLION-RUBLE BOND ISSUE.(Brief Article)
IPR Strategic Business Information Database, July, 2003
Gazprom's board of directors approved a 10 billion-ruble ($330 million) bond issue on 30 June, the company announced in a press release the same day. The three-year bonds will carry a semiannual coupon of 4 percent and have a minimum issue price of 94.69 percent of face value, corresponding to a required return of 10.5 percent. The final price will be determined on the issue date. According to the company, funds raised from the bond issue will go to maintaining current production, carrying out new projects, and refinancing short-term debt. DK
Copyright (c) 2003. RFE/RL, Inc. Reprinted with the permission of Radio Free Europe/Radio Liberty
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