Pipeliners

20 July 2007  – Upstream OnLine - Russian pipeline engineering player Stroitransgaz placed in full a five-year, 5 billion rouble ($196.7 million) bond at an auction today, an official at one of the issue organisers said. The first annual coupon rate was set at auction at 8.49%, which translates into an effective yield to maturity of 8.67%. The official told Reuters that the issue attracted investor demand of 8.8 billion roubles. The issue is organised by Gazprombank and Troika Dialog. Stroitransgaz, which focuses on engineering oil and natural gas pipelines and fields' infrastructure, is the main building contractor for Russia's gas monopoly Gazprom. Its subsidiary is also building Russia's first oil pipeline to Asia. The company currently has one outstanding 3 billion rouble bond due in June 2008. It also plans to issue a Series 3 bond worth 5 billion roubles and maturing in five years.