Not satisfied with issuing Russia’s first investment grade bond and its first securitization, Gazprom has closed a $1.1 billion loan ? the largest since Russia’s 1998 financial crisis.
The six-year deal is fully underwritten by ABN Amro and secured against export receivables from a long-term gas sales contract to the Czech Republic.
The success of the loan, which received $2.5 billion in offers from 44 banks in syndication, shows that the success of Gazprom’s $1.25 billion securitization in July was not wholly down to the intricate and innovative structure of that issue.
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