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Gazprombank signed US$1.2bn Syndicated Term Loan Facility

On 10 August 2011 Gazprombank signed a new 3-year US$1.2bn Syndicated Term Loan Facility with a syndicate of 14 international financial institutions. The facility carries the margin of 1.50% p.a. over LIBOR.

«At US$1.2bn, the transaction represents the largest syndicated term loan facility that Gazprombank has ever closed, as a result of the strong support that Gazprombank enjoys with its core relationship banks», says First Vice President Igor Rusanov.

The loan proceeds will be used to prepay the existing US$900mn syndicated term loan facility dated 14 September 2010 and for general corporate purposes, including trade-related finance thereafter.