News

Gazprombank prepaid in full the US$900mn Syndicated Term Loan Facility

On 16 August 2011, Gazprombank prepaid in full the US$900mn Syndicated Term Loan Facility raised in September 2010. The facility was bearing a margin of 2.5% p.a. over LIBOR.

The prepayment was funded with a new 3-year US$1,2bn Syndicated Term Loan Facility drawn on 16 August 2011 from a club of 14 top-tier international banks. The new facility carries a margin of 1.50% p.a. over LIBOR.

“Taking advantage of favorable market conditions in early summer of 2011, we managed to reduce the pricing and extend the duration of our syndicated loan financing. We value very high level of support demonstrated by our core relationship banks”, says First Vice President Igor Rusanov.

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