19 Oct 2009 18:18

Gazprom Neft raises $500 mln club loan at LIBOR+5%

MOSCOW. Oct 19 (Interfax) - Gazprom Neft on October 14 closed a transaction to raise a $500-million medium-term club loan facility at LIBOR + 5% pa for general operating purposes, the oil company said.

The Bank of Tokyo-Mitsubishi UFJ, Ltd acted as agent for the loan. Mandated lead arrangers also included BTMU (Europe), ZAO Raiffeisenbank, OAO Nordea Bank, ZAO UniCredit Bank and Societe Generale.

Reports said at the beginning of September that Gazprom Neft agreed on a $300-million three-year loan with BTMU, Raiffeisenbank and Nordea Bank.

Vadim Yakovlev, the company's deputy general director, economics and finance, said at the time that the loan might be increased to $500 million.