MOSCOW, July 1 (Reuters) - Russia's gas export monopoly Gazprom said on Wednesday it had placed in full two bonds worth a combined 15 billion roubles ($483.4 million).

Gazprom, the biggest borrower in Russia, said the issue was three times oversubscribed, with demand exceeding 45 billion roubles.

The company placed a 10 billion rouble bond with one-year put option with annual coupon rate of 13.12 percent and a 5 billion rouble bond with a two-year put option at 13.75 percent.

The monopoly had set a price guidance for the bonds, maturing in 2012 and 2014, in the range of 13.50-14.00 percent and 13.75-14.50 percent, respectively.

It will use the proceeds from the sale to finance capital expenditures, refinance debt and optimize debt portfolio structure, Gazprom said in a statement.

Investors returned to the Russian fixed-income market as the rouble stays near its strongest level since January, helped by high prices for oil, Russia's key export commodity.

($1=31.03 Rouble)

(Reporting by Dmitry Sergeyev; Editing by Hans Peters) Keywords: GAZPROM BOND/

(dmitry.sergeev@reuters.com; Tel: +7495 7751242, Reuters Messaging: dmitry.sergeev.reuters.com@reuters.net)

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