Gazprombank To Sell $5bn Ruble Issue

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.