Corporate Communications

VTB Capital places RUB6.13bn Gazprom Neft bond issue

10 August 2011

VTB Capital has placed Gazprom Neft 04 Series bonds worth RUB 6.13bn. The tap price has been set at 102.5% with a coupon of 7.86% p.a.

Investors were offered bonds, reacquired by the company under the offer of April 2011. During the placement, the price ranged between 102%-102.5% of the par value which will have translated into a yield of 7.96%-7.86% per annum by the time of the next offer (April 2018). The final book consisted of more than 30 investor bids with total demand of about RUB 14bn.

Alexey Konochkin, Deputy Head of DCM, VTB Capital, said: “Despite the challenging market conditions we managed to oversubscribe the book twice and place Gazprom Neft bonds at the most attractive level for the company – at the top of the price range”.

VTB Capital arranged the bond placement together with Gazprombank.

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