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Gazprom Neft to raise $1bn syndicated loan by year end

09.06.2008 - RBC

Gazprom Neft to raise $1bn syndicated loan by year end

OAO Gazprom Neft plans to raise a $1bn syndicated loan by the end of the year, according to Alexander Diukov, President of Gazprom Neft. The company has already attracted a $1bn syndicated loan this year. The proceeds will be used for the implementation of the company’s investment programme. Arrangers for the 2nd loan have not been selected yet. Alexander Diukov also noted that the company was not going to issue ruble bonds in the nearest future.


Issuer profile: Sibneft held an extraordinary general meeting on May 13, 2006, where shareholders voted to change the company's name to Gazprom Neft and to move its registered corporate address from Omsk to the city of Saint Petersburg. The name change is part of a process that began last autumn with Gazprom's acquisition of more than 75% of Sibneft's outstanding shares. Sibneft is a vertically integrated oil company, building businesses in petroleum exploration, production, refining, and marketing with the geographic focus is Russia and the CIS.
Outstanding issues:
  1 issue(s) outstanding worth USD 500 000 000
Issuer's rating:
Standard&Poor's BBB-/Stable Int. Scale (foreign curr.) 01/09/2008
Standard&Poor's BBB-/Stable Int. Scale (loc. curr.) 01/09/2008
Standard&Poor's ruAA+ National Scale (Russia) 01/09/2008
Moody's Baa3/Stable Int. Scale (foreign curr) 07/04/2008










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