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Gazprombank To Sell $5bn Ruble Issue

Bank of the Gas Industry of Russia, Gazprombank, the authorized bank of Russian gas monopoly Gazprom

Bank of the Gas Industry of Russia, Gazprombank, the authorized bank of Russian gas monopoly Gazprom, is going to launch its debut ruble issue up to 5 years in maturity to the end of 2005, Gazprombank said.

Aleksey Obozintsev, the bank deputy CEO, noted that the issue was likely to total $5 bln. ?It is a reasonable amount for a borrower like us?, he said.