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February 26, 2008 |
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ROSNEFT OIl: Gets US$3-Billion Credit Facility from 13 Banks OAO Rosneft Oil Co. signed a US$3 billion Structured Crude Oil Pre-Export Credit Facility from a group of international banks. The five-year loan carries an interest rate of LIBOR+0.95% and is secured by export contracts for sale of crude oil. The Facility is arranged and fully underwritten by a group of international banks as Main arrangers: * ABN Amro Bank N.V., * Banco Bilbao Vizcaya Argentaria S. A., * Barclays Bank PLC, Bayerische Landesbank, * BNP Paribas, * Deutsche Bank AG, * ING Bank N.V., * JPMorgan, * Mizuho Corporate Bank Ltd., * JSB Orgresbank, * Societe Generale S.A., * Sumitomo Mitsui Finance Dublin Ltd., * The Bank of Tokyo-Mitsubishi UFJ Ltd, and * WestLB AG DZ Bank AG and Calyon (as the Arrangers) have joined the transaction ahead of general syndication which is due to launch shortly. Deutsche Bank is the Facility Agent and acted as the coordinator while ING Bank (Eurasia) ZAO is the Passport Bank. Proceeds in the amount of US$3 billion have been disbursed this week and applied towards repayment of the bridge loans raised in 2007 to finance acquisitions completed during 2007. About Rosneft Headquartered in Moscow, Russia, OAO Rosneft Oil Co. -- http://www.rosneft.com/ -- produces and markets petroleum products. The Company explores for, extracts, refines, and markets oil and natural gas. Rosneft produces oil in Western Siberia, Sakhalin, the North Caucasus, and the Arctic regions of Russia. * * * As of Feb. 7, 2008, OAO Rosneft Oil Co. carries a BB+ long-term corporate credit rating from Standard & Poor's Ratings Services. S&P said the outlook is positive. |
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