Gazprom has placed indefinite bonds for 150 billion rubles
The collection of applications for the issue took place on December 4 in an hour without premarketing. The nominal value of one bond is 5 million rubles, thus, 30 thousand bonds of the issue are placed.
The rate of the 1st-10th coupons is set at 14.75% per annum. Call options with a periodicity of 5 years have been announced for the issue. In the event that the bonds are not repaid in 5 years, the rate of the next 10 coupons will be calculated according to the formula: the yield of 5-year OFZ, plus 2.5% per annum, plus a step-up surcharge (step-up for the first call option is 0.5%, for the second and subsequent – 0.95%).
Gazprombank acted as the organizer and underwriter.
The issue was placed within the framework of the third program of perpetual bonds of Gazprom Capital 003B series with a volume of 500 billion rubles.
The Bank of Russia registered two previous Gazprom perpetual bond programs with a volume of 150 billion rubles each in November 2020 and April 2022. Under the first program, the company placed two bond issues totaling 120 billion rubles, under the second program in July this year, one bond issue worth 120 billion rubles was placed – so far it has been the largest placement of perpetual bonds of a corporate issuer in the history of the Russian financial market.
Currently, there are 5 issues of Gazprom exchange-traded bonds totaling 70 billion rubles, 23 issues of Gazprom Capital exchange-traded bonds totaling 600 billion rubles, five issues of classic bonds, including perpetual ones, for 430 billion rubles, as well as issues of replacement bonds in other currencies.