Gazprom intends to float Eurobonds worth USD1.9bn, Gazprom's press service has reported. On June 12, Gazprom will launch a road show for two issues of its Eurobonds in compliance with Rule 144A. The company is raising money to refinance its credits attracted in 1993 to 2000 with the repayment date fixed for 2013. The credits were obtained by Gazprom and Blue Stream Pipeline Company B.V. with a view to finance the Blue Stream, and by Gazprom alone for purchasing equipment from Tragaz (Italy) to upgrade the Russian gas pipeline system.

      Deutsche Bank and MCC S.p.A. (Italy) are lead-managers and underwriters of the two issues. Bonds are to be listed on the Dublin Stock Exchange. The loans are attracted outside the program of borrowings for 2005. By refinancing credits, Gazprom and BSPC are meaning to lower the cost of borrowings.