Opening of order book for additional replacement of Gazprom’s Eurobonds of series 42 with Russian bonds
RELEASE
Release
Gazprom carries on the additional exchanges of Eurobonds for the bond holders who could not take part in the initial replacement operations.
In line with the decision of PJSC Gazprom, Gazprom capital LLC will place an additional issue of Russian bonds replacing the Eurobonds of Gaz Capital S.A. of series 42 issued for the amount of GBP 850 million (maturity date – April 6, 2024; ISIN: XS1592279522).
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 42 Eurobonds for replacement bonds shall be submitted from 10:00 am (Moscow time) on March 7, 2023, to 04:00 pm (Moscow time) on March 16, 2023. The exchange-related settlements are planned to be performed in the period from March 17 to 20, 2023.
The public irrevocable offer is available at the webpage of the issuer:
https://gazpromcapital.ru/fileadmin/f/events/2023/2023.03.06-oferta-42-dop.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 42 was placed in October 2022.
The issues of bonds to replace Gazprom's Eurobonds are 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.