Lukoil makes advance payment of $ 500m for a $1.2bn loan
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Today LUKOIL JSC has made partial advance payment for a loan of USD 1.2 billion attracted in August 2009, with the maturity of 3 years, the Company's press release said.
Advance payment of USD 500 million was made on account of the Company’s internal funds generated during the first half of 2010, which proves a strong financial position and sufficient liquidity level of the LUKOIL Group.
As reported earlier, the loan was secured by proceeds from oil export contracts. The leading authorized organizers are: ABN AMRO BANK N.V., LONDON BRANCH, THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., BARCLAYS CAPITAL, BNP PARIBAS S.A., CALYON, CITIGROUP GLOBAL MARKETS, LTD., DEUTSCHE BANK AG, AMSTERDAM BRANCH, ING BANK N.V., NATIXIS, JSB “ORGRESBANK”, SOCIETE GENERALE and WESTLB AG.
DEUTSCHE BANK AG, AMSTERDAM BRANCH, which also assisted OAO LUKOIL in transaction coordination, acted as the Credit and Security Agent.
LUKOIL is one of the leading Russian oil companies. The company is focused on prospecting and production of oil and gas, production of petroleum products and petrochemicals, and marketing of the products. The Company’s exploration and production activity is carried out largely on the territory of the Russian Federation. Its main resource base lies in Western Siberia. LUKOIL owns modern refineries, gas processing and petrochemical plants located in Russia, Eastern and Western Europe, as well as neighboring countries. The Company’s products are sold in Russia, Eastern and Western Europe, the CIS and the USA.