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Gazprom Neft secures 10-year EUR 258 million loan

 Gazprom Neft has reached an agreement with a group of international banks to take out a EUR 258 million, 10-year syndicated unsecured loan facility supported by an export credit agency. The proceeds will be used for the purchase of equipment and services to upgrade oil refinery of NIS, Gazprom Neft’s Serbian subsidiary.

Gazprom Neft secures 10-year EUR 258 million loan Gazprom Neft secures 10-year EUR 258 million loan


 Gazprom Neft has reached an agreement with a group of international banks to take out a EUR 258 million, 10-year syndicated unsecured loan facility supported by an export credit agency. The proceeds will be used for the purchase of equipment and services to upgrade oil refinery of NIS, Gazprom Neft’s Serbian subsidiary.


HSBC BANK acted as Global Arranger, Mandated Lead Arranger and Lender. The other Mandated Lead Arrangers and Lenders are CESKA SPORITELNA, and KOMERCNI

BANKA. The Export Guarantee and Insurance Corporation of the Czech Republic (EGAP) guaranteed the loan. This is one of the largest loans covered by an export credit agency to a Russian counterparty this year.


The agreement is still to be approved by the Board of Directors of Gazprom Neft.


“This is the first time Gazprom Neft has secured a loan guaranteed by an export credit agency. The arrangement allows us to borrow at a lower rate and for a longer period. The company will continue to work on optimising its debt portfolio by seizing various opportunities to lengthen the debt maturity profile and lower the interest rates,” said Alexei Yankevich, Deputy CEO and CFO of Gazprom Neft .

 

 

Source : Neftegaz.RU