Opening of order book for additional replacement of Gazprom’s Eurobonds of series 41 with Russian bonds
RELEASE
Release
Gazprom is starting additional exchanges of Eurobonds which are aimed at the bond holders who could not take part in the initial replacement operations.
In terms of the first additional exchange of this kind, Gazprom capital LLC will place an additional issue of Russian bonds replacing the Eurobonds of Gaz Capital S.A. of series 41 issued for the amount of USD 750 million (maturity date – March 23, 2027; ISIN: XS1585190389, US368266AV45).
As before, the only Eurobonds to be accepted for replacement are those the rights to which are recorded in Russian depositories. Gazprom will serve as the guarantor for the replacement bonds.
Russian bonds will be placed at the over-the-counter market.
The applications for participating in the exchange of series 41 Eurobonds for replacement bonds shall be submitted from 10:00 am (Moscow time) on March 2, 2023, to 04:00 pm (Moscow time) on March 13, 2023. The exchange-related settlements are planned to be performed in the period from March 14 to 16, 2023.
The public irrevocable offer is available at the webpage of the issuer:
https://gazpromcapital.ru/fileadmin/f/events/2023/2023.03.01-oferta-41.pdf (in Russian).
For any exchange-related inquiries, please contact the placement agent – Bank GPB (JSC): Exchange@gazprombank.ru.
Background
The first issue of Russian bonds replacing the Eurobonds of series 41 was placed in September 2022.
The issue of bonds to replace Gazprom's Eurobonds is 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.