Gazprom selects Gazprombank and Rencap for $10bn bond sale

By Ivan Anderzhanov

Russian gas giant Gazprom has mandated Gazprombank and Renaissance Capital to arrange a 300 billion roubles ($10.24bn)in bonds.

Rouble bonds have become popular on the local fixed-income market following the rapid rise of the ruble and as commodity prices have rallied. .

Gazprom plans to raise the sum in 13 issues over the next five years in order to fund new exploration and new pipelines.

The energy monopoly is one of the few Russian companies to have issued foreign debt with a longer maturity since the financial crisis.

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