Russia's Gazprombank plans to offer a Eurobond issue totaling at least $500 million sometime between September and November, the bank's Deputy Chief Executive Officer Alexander Sobol said Monday, Prime-Tass news agency reported.
The bank may offer convertible bonds. "Probably, they will be converted into shares of OAO Gazprom (GAZP.RS)," he added.
Russian natural gas monopoly Gazprom is one of the bank's shareholders with a 41.73% stake. Gazprom-affiliated pension fund Gazfon had 50% plus one share stake in the bank.
Gazprombank could also offer a 10 billion ruble-denominated bond issue, Sobol added.