Gazprom Neftekhim Salavat raises $500 mln club loan
MOSCOW. June 2 (Interfax) - OJSC Gazprom Neftekhim Salavat has signed an agreement with ING Bank N.V. for a preexport club facility worth $500 million, the enterprise said in a statement.
ING Bank is the sole coordinator, bookrunner, documentation agent and servicing agent for this loan facility.
INB, Nordea, Natixis, Banca Intesa, BNP Paribas, Commerzbank Aktiengesellschaft and CJSC UniCredit acted as the authorized organizers of the loan. Absolut Bank was the lead organizer.
The loan has been allocated for a 42-month period and, following a six-month grace period, will be paid in equal payments.
The company told Interfax that the loan was raised in order to optimize the loan portfolio through boosting the share of long-term borrowing and financing the investment program.
The loan transaction was completed on May 26. When asked if the loan was raised because of plans for financing the development of gaschemical center, a representative of Gazprom Neftekhim Salavat said: "Financing projects is included in the overall strategy for creating the gaschemical center using Gazprom Neftekhim Salavat as a base".
The overall cost for developing a gaschemical center in Bashkortostan is valued at 140 billion rubles. According to Bashkir President Rustem Khamitov, the republic is hoping for Gazprom's funds in order to refinance the project.