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Friday, February 22, 2008

Rosneft secures $3 bln loan

MOSCOW, February 22 (RIA Novosti) - Rosneft (LSE: ROSN) has received a $3 billion loan from an international banking group, the Russian state-run oil company said on Friday. "The 5-year loan carries an interest rate of LIBOR+0.95% and is secured by export contracts for sale of crude oil," Rosneft said in a news release. Proceeds to the amount of $3 billion have been used to repay bridging loans raised last year to finance the purchase of Yukos assets. The Yukos assets were sold off as part of an auction last year, the acquisition firmly established Rosneft as a top crude producer in Russia. The Facility is arranged and fully underwritten by banks, including 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" (part of Nordea), Societe Generale S. A., Sumitomo Mitsui Finance Dublin Ltd, The Bank of Tokyo-Mitsubishi UFJ, Ltd, WestLB AG (as the Mandated Lead Arrangers).

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