Russia’s Gazprom plans stock listing in Singapore

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GazpromRussian natural gas giant Gazprom is planning to list on Singapore’s stock exchange in July, Interfax agency quoted a company source as saying on on May 15.

Interfax reported that state-controlled Gazprom, the country’s top natural gas producer, was talking to the exchange and preparing paperwork. Gazprom was not immediately available for comment.

In April, Gazprom was already exploring ways of raising new loans and bonds from Asian investors and trying to extend an existing $500 million loan that is due to mature at the end of July. Company officials from Gazprom and its Asian unit Gazprom Marketing & Trading Singapore Pte Ltd met banks in Singapore this week to discuss future financing opportunities as international sanctions mount against Russia’s role in the Ukraine crisis.

The company is looking into the possibility of raising loans or bonds in Asia, bankers said, as as it and other Russian companies are effectively locked out of the European and US capital markets.

“The company (Gazprom) is thinking that it may be able to raise some structured financing, including deals secured by accounts receivables or trade financing,” a banker said.

The United States and the European Union imposed more sanctions on Russia this week as part of their drive to put pressure on Moscow for the annexation of Crimea and direct support for pro-Russian separatists in eastern Ukraine.

Some banks with close relationships with Gazprom’s Asian suppliers and clients – particularly Chinese and Middle Eastern banks – could be interested in supporting new deals, bankers said.

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Reading Time: 1 minute

Russian natural gas giant Gazprom is planning to list on Singapore’s stock exchange in July, Interfax agency quoted a company source as saying on on May 15.

Reading Time: 1 minute

GazpromRussian natural gas giant Gazprom is planning to list on Singapore’s stock exchange in July, Interfax agency quoted a company source as saying on on May 15.

Interfax reported that state-controlled Gazprom, the country’s top natural gas producer, was talking to the exchange and preparing paperwork. Gazprom was not immediately available for comment.

In April, Gazprom was already exploring ways of raising new loans and bonds from Asian investors and trying to extend an existing $500 million loan that is due to mature at the end of July. Company officials from Gazprom and its Asian unit Gazprom Marketing & Trading Singapore Pte Ltd met banks in Singapore this week to discuss future financing opportunities as international sanctions mount against Russia’s role in the Ukraine crisis.

The company is looking into the possibility of raising loans or bonds in Asia, bankers said, as as it and other Russian companies are effectively locked out of the European and US capital markets.

“The company (Gazprom) is thinking that it may be able to raise some structured financing, including deals secured by accounts receivables or trade financing,” a banker said.

The United States and the European Union imposed more sanctions on Russia this week as part of their drive to put pressure on Moscow for the annexation of Crimea and direct support for pro-Russian separatists in eastern Ukraine.

Some banks with close relationships with Gazprom’s Asian suppliers and clients – particularly Chinese and Middle Eastern banks – could be interested in supporting new deals, bankers said.

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