Russia’s state-run energy giant Gazprom is planning to sell bonds by the end of the year as Western sanctions have shut Russia out of international capital markets, Gazprom’s deputy chief of finance said yesterday, following a meeting with the company’s CEO with the chairman of China’s Largest bank, according to Bloomberg.
Russia’s energy giant is reportedly in talks to with China to sell offshore yuan bonds, although details of the bond alongside the size and timing of the sale might not be ready until the end of the year, Gazprom executives said on a conference call yesterday, according to Bloomberg.
“Given the wide range of instruments we have, we can say that the market for foreign borrowing remains open to us,” Ivannikov said.
Ivannikov also noted that Gazprom, the world’s largest producer of natural gas did not see an urgency to rest the market and said that the company has been vigilant in a “cautious stance” as it is planning to determine the most suitable instruments available at the current time, according to Bloomberg.
Earlier this year, the Russian energy giant inked a $400 billion, 30-year gas-supply deal with China as Russian President Putin looked to deepen ties with the world’s second largest economy.
Source: Bloomberg
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