25 September 2003 11:15
Yukos to raise long-term loan with Citibank, Commerzbank, Credit Lyonnais, Deutsche Bank, HSBC, ING and SG Corporate and Investment Banking. The amount is $1 bln.
Yukos oil company has sealed an agreement with Citibank, Commerzbank, Credit Lyonnais, Deutsche Bank, HSBC, ING and SG Corporate and Investment Banking (SG CIB) to raise long-term loan worth $1 bln, the company said. The syndicated loan will be granted in 2 tranches - with 3 yr and 5 yr terms and secured by oil export earnings.
The amount and the terms of the loan have had no precedent in Russia's business practice, Yukos said.
The loan syndication will start in the near term. If the offered funds exceed $1 bln the loan may be widened accordingly.
SG Corporate and Investment Banking are the deal coordinators, Citibank, HSBC SG CIB - syndication agents.
As informed earlier, the 1st tranche could be granted at LIBOR plus 150 basic points, the 2nd - at LIBOR plus 175 basic points for the first 3 years and at LIBOR plus 200 basic points for the remaining terms.
Yukos looks West for expansion OIL AND GAS
YUKOS to receive $1 bln syndicated loan
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