Gazprombank floats ruble bond issue on MICEX

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MOSCOW, February 2 (RIA Novosti) - Gazprombank, a subsidiary of Russian natural gas giant Gazprom, floated in full its debut bond issue worth 5 billion rubles (about $177 million) on the Moscow Inter-Bank Currency Exchange, with the first coupon rate defined at 7.1% per annum, the bank's press office said Thursday.

Russian and foreign investors submitted bids worth more than 6 billion rubles (about $212 million), offering bond coupon rates ranging from 6.79% to 7.75% per annum. The tender satisfied 38 applications.

The bonds carry 10 income coupons of 7.1% per annum each. The Central Bank of Russia registered the issue in December 2005.

Gazprombank acted as the organizer of its debut bond issue, with ABN Amro Bank, Russia's Vneshtorgbank, and international institutions Dresdner Bank, Deutsche Bank and others acting as the issue's underwriters.

Gazprombank earlier said it intended to place ruble bonds to finance its dynamically developing loan portfolio.

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