ROGTEC Magazine - Russian Oil & Gas Technologies - News, Reviews & Articles

ROGTEC Magazine - Russian Oil & Gas Technologies - News, Reviews & Articles

Gazprom Neft agrees $600 million club loan

Friday, May 13th, 2011

Gazprom Neft has reached an agreement with a group of banks to raise a five-year $600 million unsecured club term loan facility for general corporate purposes. The interest rate on the loan amounts to LIBOR +1,5%.

The Mandated Lead Arrangers and Bookrunners are Bank of America N.A., Citibank N.A., HSBC Bank plc, ING Bank N.V., Mizuho Corporate Bank Nederland N.V. and Sumitomo Mitsui Banking Corporation Europe Limited (coordinator and Facility Agent).

“The interest rate of LIBOR +1,5% per annum is the lowest loan interest rate that Gazprom Neft has attracted since May 2008. Extending the duration of borrowings and reducing interest rates are an important part of the Company’s policy in relation to administration and further optimisation of its debt portfolio”, commented Vadim Yakovlev, First Deputy CEO and CFO of Gazprom Neft.

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