3 June 2016: Gazprom Neft has successfully completed the book-building of series BO-03 exchange-traded bonds with a total nominal value of RUB10 billion and maturity of 30 years. The issue has an embedded three-year put-option and a semi-annual coupon period.
Thirty investors participated in the book-building. High demand from all categories of market investors, and a two-fold oversubscription, allowed the company to close the book with a coupon rate of 9.8 percent per year.
Bank GPB (JSC), Sberbank CIB (JSC) and Promsvyazbank PJSC acted as arrangers, with Sberbank CIB (JSC) also acting as placement agent. Settlement will take place on 9 June 2016 on the Moscow Exchange (MOEX).
Alexei Yankevich, Gazprom Neft Deputy CEO for Economics and Finance commented: “The company has successfully made what is now its second market bond placement this year, again received by the investment community with great interest. We have not only achieved the lowest coupon rate of all Russian corporate borrowers’ market bond issues since mid-2014, but also a record low spread to the local government bonds (OFZ) for a corporate bond on the current market.”