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Gazprom Neft increases the amount of its USD 600 million Club Term Loan Facility to USD 870 million

Published on Oct. 28, 2011

 
Gazprom Neft increases the amount of its USD 600 million Club Term Loan Facility to USD 870 million

The Board of Directors of Gazprom Neft has approved an amendment agreement to increase the amount of its USD 600 million Club Term Loan Facility signed in April 2011 to USD 870 million. Original terms of the Facility remain unchanged.

The agreement on the increase was reached with a group of banks in August. The increase was achieved by both the increase of commitments of the existing lenders and by accession of a new lender Nordea. The funds will be used for general corporate purposes.

"The success of raising additional funds on original terms and conditions was determined by both the company's timely reaction to a change in the global financial markets and the support of its relationship banks. Attracting additional funds on the original lending terms will favorably impact the average maturity and the average interest rate on the group's loan portfolio," commented Gazprom Neft acting CFO Aleksei Yankevich.

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Gazprom (Газпром)

Gazprom is the world’s largest gas company, and one of the worlds pre eminent energy companies, focusing on the exploration, production, transmission, storage, processing and marketing of gas for ...

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