Issue information:

• Issuer, issue number:	Gazprom, 2020 (SEN)
• Income calculation:	Date of trades Price %
• Type of bond:	Eurobonds-LPN
• Redemption type:	Amortized
• Issue status:	outstanding
• Par, currency of issue:	USD, 1000000
• Amount:	1 250 000 000
• ISIN:	XS0197695009
• Start of placement:	Jul 23 2004
• End of placement:	Jul 23 2004
• Coupon:	7.201%
• Coupon frequency:	1 time(s) per year
• Settlement date:	Aug 01 2004
• Maturity date:	Feb 01 2020
• Arrangers:	Leads: ABN AMRO, Merrill Lynch and Morgan Stanley
• Trading floor, listing category:	Luxembourg S.E.
• Issue ratings: (rating history)	Standard&Poor's BBB/Positive Int. Scale (foreign curr.) 09/05/2006 Fitch Ratings BBB+/Stable Int. Scale (foreign curr.) 04/11/2008
• Additional information:	Structured Export Notes guaranteed by Open Joint Stock Company Gazprom and Gazexport Ltd. to be issued by Gazprom International S.A. for the purpose of financing a loan to Open Joint Stock Company Gazprom Issuer: Gazprom International S.A. Collateral: Proceeds of two gas export contracts between European gas buyers (N.V. Nederlandse Gasunie and ENI SpA) and Gazexport Ltd. Designated obligors: N.V. Nederlandse Gasunie (Netherlands) and ENI SpA (Italy). Noteholder trustee: ABN AMRO Trustees Ltd. Fiduciary and accounts bank: ABN AMRO Bank (Luxembourg) S.A. Assignors and notes guarantors: OAO Gazprom and Gazexport Ltd. Loan guarantor: Gazexport Ltd. Governing Law: English The transaction is structured as a loan from the issuer/special-purpose vehicle (SPV) to Gazprom that is collateralized with current and future receivables due in relation to two current gas supply contracts between Gazexport Ltd. (the trading arm and agent of Gazprom) and N.V. Nederlandse Gasunie (Gasunie) of the Netherlands and ENI SpA of Italy. The maturity of individual series of notes may vary depending on the maturity of the contracts included in the financing. The program allows the issuer to issue additional notes to fund further loans to Gazprom, subject to satisfaction of certain conditions. Both Gazprom and Gazexport will guarantee payment under the notes and this guarantee will rank at least pari passu with all present and future unsecured and unsubordinated obligations of Gazprom or Gazexport, with the exception of certain obligations that may be preferred by provisions of law. Banks ABN AMRO, Merrill Lynch and Morgan Stanley said this week they were joint bookrunners of the deal, which would be guaranteed by export revenues of the world's largest gas producer. Gazprom’s hoping the bond would carry annual interest of 8.0-9.0 percent. The bond is expected to have an option for early redemption after slightly more than seven years.
• Files:	New Gazprom SEN (BBB-) is Fair-to-Attractively Priced Gazprom20 Prospectus 1 tranche programme
• Investment banks:	Lead manager(s):  RBS  Merrill Lynch Morgan Stanley

Borrower:

• Issuer:	Gazprom
• Full issuer name:	Gazprom open joint stock company
• Country:	Russia
• Web site:	http://www.gazprom.ru/
•Other issues of the issuer:	Gazprom, 14 - Domestic bonds  Gazprom, 13 - Domestic bonds  Gazprom, 12 - Domestic bonds  Gazprom, 11 - Domestic bonds  Gazprom, 10 - Domestic bonds All issues of the issuer
• Issuer profile:	Open joint-stock company “Gazprom” (Gazprom) is the largest gas producing company in the world. Gazprom’s share in the world gas production is about 20%. Gazprom controls almost 60% of the Russian gas ...
• Industry:	Oil and gas
Issuer ratings: » rating history Standard&Poor's BBB/Negative Int. Scale (foreign curr.) 10/24/2008 Standard&Poor's BBB/Negative Int. Scale (loc. curr.) 10/24/2008 Moody's A3/Positive Int. Scale (foreign curr) 07/16/2008 Fitch Ratings BBB/Stable Int. Scale (foreign curr.) 11/10/2008 Fitch Ratings BBB/Stable Int.l Scale (local curr.) 11/10/2008 National Rating Agency AAA National scale (Russia) 07/01/2007
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