08/11/03
NEW YORK, N.Y., August 11, 2003 - The Bank of New York announced today that it was selected to serve as trustee, registrar, paying and transfer agent for Gazprom’s $1.75 billion, 9.625% Loan Participation Notes due 2013. The notes are structured as a loan by Morgan Stanley Bank AG, under the RegS/144A of the 1933 Securities Act. This corporate bond transaction is one of the largest ever issued by a Russian company.
Gazprom is a natural gas company and a publicly traded hydrocarbons company. In 1993, the state-owned concern was transformed into a joint stock company in which the Russian Federation currently maintains an approximate 38% stake.
Dr. Andrey V. Kruglov, director of corporate finance at Gazprom, said, "It is exciting to have made history with this bond placement. The Bank of New York is one of our oldest partners, and it was a pleasure working with them on this landmark transaction."
Steven Hodgetts, managing director and division head for global trust services at The Bank of New York, said, "We are pleased that Gazprom elected to use our diverse range of trust and agency services for this transaction, which is a significant milestone for both Russia and the emerging debt capital markets."
This announcement is not an offer to sell or a solicitation of an offer to buy any securities. The offering is made only by means of the prospectus.
The Bank of New York is a leading provider of corporate trust and agency services. The Bank and its subsidiaries and affiliates administer a portfolio of more than 85,000 trustee and agency appointments, representing more than $1 trillion in outstanding securities for more than 30,000 clients around the world. The Bank is a recognized leader for trust services in several debt products, including mortgage-backed and asset-backed securities, corporate and municipal debt, derivative security services and international debt offerings.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in securities servicing for issuers, investors and financial intermediaries. The Company plays an integral role in the infrastructure of the capital markets, servicing securities in more than 100 markets worldwide. The Company provides quality solutions through leading technology for global corporations, financial institutions, asset managers, governments, non-profit organizations, and individuals. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has a distinguished history of serving clients around the world through its five primary businesses: Securities Servicing and Global Payment Services, Private Client Services and Asset Management, Corporate Banking, Global Market Services, and Retail Banking. Additional information on the Company is available at www.bankofny.com.
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