Exchange of Gazprom’s Eurobonds for replacement bonds
RELEASE
Release
In line with the decision of PJSC Gazprom, Gazprom capital LLC will place an issue of replacement bonds, i.e. Russian bonds replacing the Eurobonds of series 41 the rights to which are recorded in Russian depositories. Gazprom will serve as the guarantor for the replacement bonds.
The issue of replacement bonds will be subject to the requirements outlined in Executive Order of the President of the Russian Federation No. 430 “On the Repatriation by Residents Participating in Foreign Economic Activity of Foreign Currency and the Currency of the Russian Federation” dated July 5, 2022.
The only Eurobonds to be accepted are those of Gaz Capital S.A. of series 41 issued in 2017 for the amount of USD 750 million to finance a loan in favor of Gazprom (coupon rate – 4.95 per cent per annum, maturity date – March 23, 2027; ISIN: XS1585190389/ US368266AV45).
The replacement bonds will have terms similar to those of Eurobonds of series 41 as regards the amount and dates of coupon yield payments, maturity date and par value. Settlements on the replacement bonds will be made in Russian rubles at the exchange rate of the Bank of Russia as of the date of the corresponding payment.
Gazprom capital LLC requested the Bank of Russia to carry out the state registration of the replacement bond issue. The parameters and terms of the replacement bond issuance will be communicated to the investors after the issue documents are registered by the Bank of Russia.
The order book for those wishing to take part in the exchange of series 41 Eurobonds for replacement bonds is expected to be compiled in the period from September 12 to 15, 2022. Exchange-related settlements are planned to be performed in the third week of September 2022.
Further information on subsequent plans for the other Eurobond series will be communicated to Eurobonds holders by Gazprom in due time.
For any exchange-related inquiries, please contact the placement agent – Bank GPB (JSC): +7 (495) 428–4937, +7 (495) 428–5092, dcm@gazprombank.ru.