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Gazprom Neft

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

Published on Oct. 28, 2011

 
Read 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 ...

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