Gazprom Neft approves club credit of up to $1 bln
MOSCOW. June 10 (Interfax) - The board of directors at OJSC Gazprom Neft has approved a club credit of up to $1 billion, the company said.
The credit comes in the form of two credit lines: 70% of the total amount in a five-year, non-renewable credit line at LIBOR+1.75% per annum and repayment during the last three years, and 30% of the amount in a three-year, renewable credit line at LIBOR+1% p.a. with a one-off repayment at the end of the period.
The organizers of the credit were BNP Paribas (Suisse) SA, Commerzbank Aktiengesellschaft, Commerzbank (Eurasija) SAO, Credit Agricole Corporate and Investment Bank, Den Norske Syndicates, HSBC BANK PLC, Mizuho Corporate Bank, Ltd., Mizuho Corporate Bank Nederland N.V., Raiffeisen Bank International AG, ZAO Raiffeisenbank, Sumitomo Mitsui Banking Corporation Europe Limited, Sumitomo Mitsui Finance Dublin Limited, and Unicredit Bank Austria AG.
At the end of April, Gazprom Neft signed a $1-billion credit agreement with a group of international banks. The funds are being provided without security and will be used to finance the company's current projects.
Gazprom Neft placed $1.5 billion in Eurobonds last year, organized by Credit Agricole, Gazprombank and JP Morgan.