Gazprom Said to Be on Track to Pay Dollar Bonds Due March 7 (2)

Gazprom PJSC,the Russian state-controlled energy giant, is already in the process of settling a $1.3 billion debt due on Monday.

The company wired the cash on Feb. 28 to the settlement bank, which will probably release the funds on March 4, a person familiar with the matter said, declining to be identified because the information is private. Gazprom also has a coupon payment nominally due a day earlier on a Swiss franc debt, which the person said will also be paid.

It’s a reprieve for Gazprom’s bonds, which lost about half of their value in just over a ...