Russia's gas giant Gazprom next week will pay another $1 billion of last year borrowing from a group of foreign banks to buy the domestic oil company Sibneft.
The payment, scheduled for Monday, will reduce Gazprom's debt to the group to $3.1 billion, from the $13 billion it borrowed.
Gazprom owed the banks $5.1 billion at the beginning of the year, the company's chief financial officer Andrei Kruglov said.
488
Gazprom Settling a Debt
The payment will reduce Gazprom's debt to the group to $3.1 billion
