The deal launched at a yield of 310 basis points (bps) over mid-swaps, higher than Gazprom‘s five-year debt that currently trades at around 270-280 bps.
The energy giant was originally seeking $450 million.
Morgan Stanley is the sole manager of the deal.
Mid-swaps are an arithmetical average of the bid and offer interest rate quoted in trade between banks.
Gazprom raised $1.1 billion in April via a bond with five- and 10-year tranches. (Reuters)
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