Debt Service Guarantees on Yamal LNG Removed from NOVATEK
PAO NOVATEK today announced that after fulfilling all the conditions stipulated by the Project’s external bank financing, the debt service guarantees of Yamal LNG were formally removed from NOVATEK.
“We have reached another significant milestone on Yamal LNG with the removal of the guarantees relating to the project’s financing.” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. “The removal of the guarantees will allow NOVATEK to attract external financing for its new projects on more favorable terms, and equally important, removes the restrictions on our dividend payout ratio.”
