These are strange times in the corporate bond markets. Gazprom, Russia's largest natural gas company, is hardly the most transparent of issuers and it is also only B+ rated. Yet it was one of only three corporate issuers worldwide to get a deal of $500 million or more away last month.
At the beginning of the month Gazprom issued its second Eurobond of the year - a seven-year $500 million issue through CSFB and Salomon Smith Barney.
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| Source: Dealogic |
Speaking at an investor conference in New York, Gazprom CFO Boris Yurlov said he hoped the Eurobond would get pricing comparable to the company's inaugural $500 million issue in April, which was also launched through CSFB and Salomon Smith Barney.