MOSCOW, March 27 (RIA Novosti) - Gazprombank, a subsidiary of Russian energy giant Gazprom [RTS: GAZP], has placed Eurobonds worth $700 million, the bank's press office said Tuesday.
Gazprombank intends to use the proceeds from the Eurobonds to increase its credit portfolio, including granting loans to dynamically developing chemical, petrochemical and machine-building enterprises, food and electric power companies, the press office said.
The Eurobonds carry a floating coupon rate of three-month LIBOR plus 0.90% per annum with maturity in 2010, the press office said.
Dresdner Kleinwort and UBS Investment Bank are the lead managers for the Eurobond issue, the press office said.
