Gazprom to replace four more Eurobond issues in dollars and euros
On September 20, Gazprom exchanged $750 million worth of Eurobonds for Russian replacement bonds, Famil Sadigov, the company's deputy head, said. Now Gazprom intends to replace four more issues of Eurobonds placed in dollars and euros. The closing date for voting is 30 September.
“Now we are carrying out similar work on four issues of Eurobonds placed by Gaz Capital SA in US dollars and euros maturing in 2023 (€1 billion, coupon 3.125%), in 2024 (€750 million, 2.25%; €1 billion, 2.949%) and in 2034 ($1.2 billion, 8.625%),” said Mr. Sadigov, quoted by press office companies.
Gazprom also "strongly recommends" that investors who hold Series 42 Eurobonds issued in the amount of £850m (4.25% per annum, due April 6, 2024) take part in the exchange for new Russian replacement bonds. Applications are being collected until September 29, 2022. “The exchange of Eurobonds for Russian bonds is the only way to receive coupon and face value payments for investors whose bonds are held in Russian depositories,” the company noted.
April 16 RF Vladimir Putin signed the law on the delisting of depository receipts of Russian companies from foreign markets with subsequent conversion into Russian securities. In July, the President signed a decree that allowed companies to make payments on Eurobonds in rubles.
Read about the interest of Eurobonds in the domestic market in the material "Kommersant" "Local Eurobondiana".
