Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Gazprombank Seeking Loan

Gazprombank is planning to raise a three-year syndicated loan worth about $1 billion, two banking sources said Monday.

"The bank needs funds to refinance an outstanding loan raised in September last year," said one of the sources, who added that the lender was looking at a rate of LIBOR plus 1.5 percent.

Gazprombank, in which the world's biggest gas producer Gazprom holds a 41.7 percent stake, raised a three-year syndicated loan worth $900 million at the rate of LIBOR plus 2.5 percent in September last year. Gazprombank deputy chief executive Alexander Sobol said in March that the lender planned to borrow up to $2 billion on external markets in 2011.


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more