20.06.2008
Re Loan
LUKOIL OBTAINS A LOAN OF USD ONE BILLION
LUKOIL has contracted a USD 1 billion syndicated loan facility (the ‘Facility’).
The Facility includes two tranches:
Tranche А of USD 300 million. Tranche В of USD 700 million.
Tranche A and Tranche B have a 3- and a 5-year maturity periods respectively.
Tranche A is priced at LIBOR + 0.85% per annum; Tranche В is priced at LIBOR + 0.95% per annum.
The borrower is LUKOIL Finance Ltd. (a 100% subsidiary of OAO LUKOIL).
The Facility has been arranged by ABN AMRO BANK N.V., BANCO BILBAO VIZCAYA ARGENTARIA S.A., BNP PARIBAS (SUISSE) S.A., THE BANK OF TOKYO-MITSUBISHI UFJ, Ltd., ING Bank N.V., MIZUHO CORPORATE BANK, Ltd., WESTLB AG, London branch.
The Facility is secured by OAO LUKOIL’s warranty.
The Facility has been obtained to repay the outstanding debt of LUKOIL Finance Ltd. to the syndicate of international banks that arranged financing for the purpose of acquiring Nelson Resources in 2005. The new Facility improves LUKOIL Group debt portfolio structure while the external debt burden remains practically unchanged.