Gazprom Neft signs $317mn loan deal
According to the Moscow Times, Gazprom Neft has signed an agreement with a group of international banks for a 10-year unsecured loan of $317 million. The funds will be invested in an upgrade of NIS, a Serbian subsidiary of Gazprom Neft. The authorized lead organizer, co-organizer, and creditor is HSBC. Among other co-organizers and creditors are Ceska Sporitelna and Komercni Banka, Interfax reported Friday. The funds are guaranteed by the Export Guarantee and Insurance Corporation of the Czech Republic. NIS owns oil refineries in Pancevo and Novi Sad with combined capacity of 7.3 million tons a year. It also owns a major filling station chain.
Does this loan assure that Gasprom Neft will be the number one oil company in the future? What are the implications of this loan? How does this loan differ from a unsecured credit for bad credit ? I am not very familiar with different types of loans.
Last edited by JBurton; 11-23-2012 at 05:05 AM.
Gazprom-Neft is the oil division of Gazprom, one of the largest companies in the world, with an annual revenue of around $158 billion. Why did they even need a loan of just $317 million anyway? that sort of money, in the industry that they are in, is a pittance.
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