Gazprom to place bonds worth CNY 3bln at a final coupon rate of 7.85%, Interfax sources state
Gazprom's decision to place bonds at a coupon rate of 7.85% indicates an attempt to tap into capital markets, likely reflecting its need for financing amid shifting energy dynamics.
Iranian Foreign Minister Araghchi says Iran will always carry out its historical duty as the protector of security in Hormuz
US Energy Secretary Wright says he thinks China will be a bigger buyer of US crude oil, via a CNBC Interview; says Strait of Hormuz is up to Iran
Gazprom to place bonds worth CNY 3bln at a final coupon rate of 7.85%, Interfax sources state
Taiwanese Foreign Minister says Taiwan has maintained good communication with the US; the US government has also reiterated its opposition to any attempt to force or coerce a change to the status quo
US NY Empire State Manufacturing Index (May) 19.60 vs. Exp. 8.1 (Prev. 11.00)
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The size of the issue (CNY 3 billion) suggests a targeted approach, but the coupon rate could signal investors' perceptions of risk or the issuer's credit quality. Watch how this impacts wider fixed income sentiment and any potential flow into similar securities.
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