UPDATE 2: Source: Gazprom sets final Eurobond guidance at 3.5–3.6%

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MOSCOW, Jul 7 (PRIME) -- Russian gas giant Gazprom has set the final yield guidance for 10-year U.S. dollar-denominated Eurobonds at 3.5–3.6%, a financial source told PRIME on Wednesday.

The initial guidance was set at 3.875%, it was later cut to 3.65–3.70%.

The expected placement amounts to U.S. $1 billion and investors' demand exceeds $2.8 billion, the source said.

Gazprom has held a series of investor calls to coordinate the possible Eurobond sale since Monday.

Gazprombank, J.P. Morgan, IMI-Intesa Sanpaolo, MUFG, and Sber CIB are the organizers of the placement.

Gazprom placed 500 million Swiss franc Eurobonds maturing in 2027 in June at 1.54%. Earlier in 2021, Gazprom placed 1 billion euro 6-year Eurobonds at 1.5% and 8-year Eurobonds for $2 billion at a 2.95% yield.

(73.2660 rubles – U.S. $1)

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