Rosneft completed early repayment of a state bank loan
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Rosneft completed early repayment of a USD 577 mln loan obtained in Q4 2008 from Vnesheconombank (a Russian state bank).
The loan was provided to Rosneft within the ‘Additional measures to support the Russian financial system’ Federal law to refinance the debt raised from international creditors. The facility was provided for one year at LIBOR+5%.
“Early repayment of the Vnesheconombank’s loan was effected from Q1 2009 free cash flow and reflects Rosneft’s desire to promptly repay the state loans”, – commented Sergey Bogdanchikov, the President of Rosneft.