Royal Dutch Shell Plc  .com Rotating Header Image

UpstreamOnline: Gazprom eyes $2bn loan

By Upstream staff

Russia’s gas monopoly Gazprom has mandated two banks, including ABN AMRO, to arrange a $2 billion dual-tranche syndicated loan, which will be used for general corporate purposes including acquisitions, a banking source said today.

The transaction includes a three-year and a five-year tranche. Syndication is expected to launch within the next week.

The new deal is the company’s first since it was upgraded to A3 by Moody’s in December, and as such is expected to set a new pricing benchmark.

Gazprom had already picked Credit Suisse and Morgan Stanley to lead a $2 billion Eurobond to be placed at the end of February and earlier today the company said it will start placement of a seven-year, 5 billion rouble ($189.8 million) bond on 21 February.

Gazprom needs to raise money to pay $7.45 billion to Shell and its Japanese partners for half of the Sakhalin 2 development, which it agreed to buy last year.

The company also wants to bid for some assets of the bankrupt oil producer Yukos when the state starts selling them later this year to recover back tax debt, Reuters reported.

 

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each blog member is allowed limited comments, as displayed above the comment box.
  • Comments must be limited to the number of words displayed above the comment box.
  • Please limit one comment after any comment posted per post.