Corporate · RU000A0JUAP1

Gazprom BO-20

RU000A0JUAP1

Floater

—

the issue has no price

Price — par 1 000

Coupon 6.86% the issuer sets the rate

Maturity 21.10.2043 term 17.0 y

Duration 17.0 y coupon is reset

Daily turnover — no data for 30 days

Credit risk AAA(RU) ACRA · low

Price and spread over the ratehow the bond traded and how much it pays over the base rate

Bond price, % of par

Incomewhat your investment will earn and when payments arrive

Yield calculator

No yield can be derived for this bond — the issue has no price: the exchange returned neither a last trade nor a volume-weighted price - there is nothing to calculate a yield from. The calculation below starts from 100% of par - a substituted figure, not a market price.

Investment amount, ₽ Or quantity, units Broker fee, % Purchase price, % Yield (YTM), % Discount margin, bp

Bonds for the amount—

Purchase price per unit (with accrued interest)—

Investment amount—

Fee—

Coupon income to maturity—

Principal repayment—

Total profit—

Effective YTM under the MOEX convention (ACT/365). The floater's coupons are projected under the "flat" scenario - the yield is indicative.

Floating coupon

Coupon basethe issuer sets the rate

The issuer sets the coupon rate before each period; it is not tied to the key rate or RUONIA. That is why the premium over the base and the discount margin are not calculated for this issue: there is nothing to compare with. Only the current period's rate is known - it is shown below, and the yield to maturity depends on what rates the issuer sets next.

Current coupon rate6.86%

Upcoming coupon · 11.11.202634.21 ₽ (6.86%)

Next coupon · 12.05.202736.65 ₽ (7.35%)

How the coupon is calculated. The coupon floats but the base is undefined: the rate history explains it neither by the key rate nor by RUONIA - the link is set out in the issue decision (it may be inflation, an OFZ yield for the term, or an issuer decision). Paid twice a year.

Coupon scenario Flat · Implied

Issuer credit qualityrating, financials and the issuer's debt

Credit risk

Low

issuer rating AAA · default probability ≈ 0.02%/yr

Altman Z″ 3.86 · Safe

issuer balance sheet · RAS 2025

5.2 21 4.7 23 3.8 24 3.9 25

over 2021-2025 the change is -1.34, no sustained trend

Interest coverage0.2×

Liabilities to equity0.6×

Return on sales2.2%

Figures are from the issuer's RAS statements for 2025. RAS covers a single legal entity without its subsidiaries. If the issuer is a holding company, the main business is run by subsidiaries, and the group's position is better reflected in consolidated IFRS statements.

Conclusion: Balance-sheet metrics (Altman Z″) agree with the credit rating.

Group financials and issuer debt

Group, IFRS

	2025, actual	2026, forecast
Revenue	9771	11042
EBITDA	2918	4196
Net profit	1074	1779
Net debt / EBITDA	—	1.4×

RUB bn. The forecast is a FairValue estimate, not the issuer's reporting. Full financials are on the GAZP share page

The issuer's debt outstanding

Circulating30 bn ₽

Issues2

Due within a year0%

Cost of debt6.86%

Peerssimilar bonds of other issuers

Compare with another bond

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Historywhat the bond returned in the past

Issue parametersterms, buying now, yields and spreads

Terms

Coupon6.86% a year · the issuer sets the rate · 2 payments/yr

Coupon, ₽34.21

Par1 000 ₽

Maturity21.10.2043 · 17.0 y

Issue

Listing level3

Issue size15 bn ₽

Lot1 units

Buying now

Accrued interest, ₽31.57 as of 28.10.2026

Trades today0

Yields

Spreads and valuation

MOEX ISS data. Not an individual investment recommendation. Yields, spreads and the fair price are calculated from the exchange quote and are for reference: a real trade goes through at the order book price and depends on the issue's liquidity. The calculations exclude broker and exchange fees; tax is shown on a separate line and simplified (no accrued interest at purchase).