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42

LUKoil Gets Loan From Sberbank

LLUKoil has raised $500 mln. and 17 bln. roubles - approx. $476 mln. - in loans from Sberbank Friday

The funds were borrowed to increase the company's working capital.

As reported earlier, on February 9 the company also received an unsecured three-year loan worth 1 bln. euroes from Gazprombank at a fixed interest rate of 8 percent per year.

The company raised the funds for general corporate purposes, including the extension of loans to its subsidiaries and affiliates, as well as the redemption of earlier loans.

Author: Ksenia Kochneva