The FINANCIAL — OAO Gazprom announces the establishment of its U.S.$4 Billion Guaranteed European Commercial Paper (“ECP”) Programme (the “Programme”) (short-term rating A-3/P-2/F3) for the issuance of short dated debt instruments in the European and Asian markets under Regulation S of the U.S. Securities Act of 1933 by Gazprom ECP S.A., an orphan special purpose vehicle established in Luxembourg (the “Issuer”), guaranteed by OAO Gazprom.
The Programme will allow OAO Gazprom to better manage its liquidity position and short-term cash-flows.
The debut draw-down under the Programme has been placed in the amount of USD 600 million with a maturity of 3 months at 3.4% annual yield.
UBS Investment Bank acts as the Sole Arranger of the Programme and the Sole Bookrunner of the first draw-down.
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