VTB Capital

Gazprom made its sixth appearance in the Swiss franc bond market on Wednesday, but for only the first time as an investment grade credit after S&P upgraded its rating. Institutional investors, which only buy bonds that are eligible for the Swiss Bond Index, piled into the transaction, pushing pricing down and the size up.

Central China Real Estate, Hubei Science & Technology Investment Group Co and Shui On Land jumped into the offshore debt market on Monday, getting ahead of a growing line of issuers.

Gazprom is looking to enter the Swiss franc market for the fifth time, mandating four banks to arrange meetings for a benchmark bond. After Moody’s upgraded the Russian company to investment grade, the arrangers are particularly confident of Swiss interest.

RusHydro, the Russian hydroelectric power generator, kicked off local currency Eurobonds for 2018 with a three year note on Thursday. DCM bankers said that internationally cleared local currency bonds will gain increasing traction this year.

RusHydro, the Russian hydroelectric power generator, will meet investors next week for a Eurorouble bond.

United Company Rusal has released price guidance for its Reg S/144A five year benchmark bond.

Polyus Gold, Russia’s largest gold producer, printed its $500m six year bond on Wednesday from a book of $2bn and flat to where lead managers said they saw fair value.

United Company Rusal has added an extra bank to its bond mandate ahead of pricing for the Reg S/144A dollar deal, which is expected on Thursday.

Polyus Gold, Russia’s largest gold producer, has released price guidance for a six year benchmark bond and books for the deal are already over $1.1bn.

United Company Rusal has returned to its core currency after issuing two Panda bonds via private placement last year. The Russian aluminium producer will meet investors for a dollar bond of intermediate maturity next week.

Russian fertiliser producer PhosAgro placed the first Russian corporate bond of the year on Wednesday, securing a coupon of below 4%.

PhosAgro, a Russian phosphate-based fertiliser company, has released price guidance for a $500m 5.25 year bond that a banker away from the deal and an investor are calling “fair”.