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Gazprom Neft Secures $2.15Bln Syndicated Loan

Gazprom subsidiary Gazprom Neft has agreed a $2.15 billion syndicated credit facility with a group of international banks, the company said in a press release Tuesday.

The unsecured loan, offered at an interest rate of 150 basis points above libor, will mature five years from the date of the first utilization and comes with a two-year grace period. Gazprom Neft plans to use the funds for general corporate purposes in 2014.

The agreement was signed with a wide consortium of banks, including Bank of America Merrill Lynch, Barclays, Credit Agricole, Deutsche Bank, ING, Societe Generale, Bank of Tokyo-Mitsubishi, Royal Bank of Scotland and UniCredit.

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