Page 82 - RusRPTJul19

Reportedly, Gazprom could tap the Eurobond market in October-November, possibly with euro-denominated placement. Currently the company's foreign borrowing programme for 2019 is set at RUB297.7bn.
Gazprom's Eurobonds issues are often timed and benchmarked by Russian sovereign placements. The head of the Finance Ministry's debt department Konstantin Vyshkovsky said in an interview to Bloomberg on May 28 that Russia could sell another Eurobond this year denominated in euros or US dollars, after successfully testing the investor sentiment amid sanction risks and swiftly placing $3bn and €0.75bn worth of Eurobonds in March.
Gazprom has over $40bn bonds in circulation under the Euro Medium Term Note (EMTN) programme alone, with the latest issues placed in November 2018 (€1bn) and the next one planned for October 2019 ($1.25bn). In April Gazprom redeemed a $2.25bn Eurobond issue placed in 2009, the issue being the biggest Eurobond placement in Gazprom’s history.
82 RUSSIA Country Report July 2019 www.intellinews.com