Gazprom successfully placed two debut issues of exchange bonds (BO-19 and BO-20 series) with a 30-year maturity worth a total of RUB 30 billion at the MICEX Stock Exchange.
The raised funds will be appropriated to finance Gazprom’s current activities.
The bond issue has become the most long-term instrument for Gazprom in the local debt market, thus enabling the company to lengthen its liability structure.
In case of the expected disinflation due to the monetary policy pursued by the Russian Government, the placing of Gazprom’s exchange obligations will be one of the most efficient instruments of long-term financing in the national currency.
LNG World News Staff, November 29, 2013; Image: Gazprom