13 Jan 2011 15:55

Enisei Oil Company raises $250 mln loan for refinancing debt and replenishing capital

MOSCOW. Jan 13 (Interfax) - Enisei oil company is raising a $250 million syndicated loan for refinancing its current debt and replenishing circulating capital, Raiffeisenbank said in a statement.

The bank is underwriting the loan with Raiffeisen Bank International AG and VTB Bank (Deutschland).

The funds are being presenting in two tranches: tranche A - an immediate loan worth $200 million set for payment in December 2015 and tranche B - a revolving loan facility worth $50 million slated for maturation in December 2013.

Enisei Oil Company owns licenses for exploration and production at the Zapadno-Synatyskoye field in the Timano-Pechora oil and gas province. Recoverable C1 resources at the field come to over 19 million tonnes. The company also owns geological licenses for the Caspian field.

The main shareholders in the oil company are Switzerland's Bavex AG with 44% and Coruno AG with 20%.