Gazprom Neft debut Eurobond seen as generous

Russian energy firm Gazprom Neft is taking no chances with its debut Eurobond if market views on its price thoughts are anything to go by. An analyst and a syndicate manager away from the deal said that the initial 4.75% yield area thoughts released for its 144a/Reg S 10 year bond looked wide in comparison to names like Gazprom and Lukoil. The price guidance revised downwards to 4.5% late this morning.