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Naftogaz Gets $2Bln Loan

Ukraine's national oil and gas company, Naftogaz Ukrainy, on July 2 signed a loan agreement with Gazprombank for $2 billion, Interfax reported Monday, citing web portal Derzhavni Zakupivli.

The cost of servicing the credit facility for seven years (2012-19) will be $1.54 billion.

Naftogaz will raise the funds at a tender with one participant. The funds will be used to pay for imported Russian gas. At the end of last year, Gazprombank issued a $550 million loan to Naftogaz to pay for Russian gas.


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