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8

Gazprom To Get $1,526 bn Loan To Pay Debts

Russian gas giant Gazprom will receive a $1.526 billion syndicated loan from foreign banks

Russian gas giant Gazprom will receive a $1.526 billion syndicated loan from foreign banks ABN AMRO and Calyon, an ABN AMRO news release said Tuesday.

The statement said the loan would be used to refinance Gazprom's $1.1-billion loans taken out on April 27, 2004 and September 24, 2004.

The syndicated loan will be paid off quarterly in equal parts until August 2010.