Gazprom’s Headquarters keep hosting the Company’s Board of Directors’ meeting.

The Board approved the results of Gazprom’s A5 nonconvertible interest-bearing documentary pay-to-bearer bond issue.

Reference:

On 12 October, Gazprom placed A5 RUR 5 billion bonds with a RUR 1,000 face value and 3-year maturity. The annual rate of coupon payable semi-annually was fixed at the Moscow Inter-Bank Currency Exchange at 7.58%. Renaissance Capital and Rosbank served as the loan lead managers, with the Horizon Investment Company and the United Finance Group acting as co-lead managers and the Federal Fund Corporation as financial adviser. The funds to be attracted will be channeled to finance capital investments necessary to maintain current production capacities, implement new promising projects as well as re-finance the short-term debt and optimize the loan portfolio structure.

Gazprom first placed A1 RUR 3 billion bond loan in July 1999, with the 2nd placement of A2 RUR 5 billion bonds taking place in November 2002. On 3 February 2004, Gazprom successfully placed A3 RUR 10 billion bonds with a 3-year maturity. The loan became the largest transaction in the Russian capital market history. In August 2004, the Company officially registered A4, A5 and A6 bond issues, each worth RUR 5 billion. The A4 and A6 bonds are planned to be placed in 2005.

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