Russian gas monopoly Gazprom OAO (OGZPY) has mandated Credit Suisse Group(CS) as the "sole lead manager" for a forthcoming dollar-denominated bond issuance, according to a fund manager term sheet obtained Wednesday.
The transaction will launch following investor roadshows in the U.S. and the U.K. starting Monday and will price subject to market conditions, the term sheet said.
The market has been rife with speculation that Gazprom would take advantage of the window of opportunity created by tightening spreads to issue more bonds, several fund managers have said.
Moody's rates the quasi-sovereign company Baa1, while Standard & Poor's and Fitch rate it BBB