Sibneft gets $150m credit

Sibneft has received a syndicated credit totaling $150m from Raiffeisen Group and Landesbank Schleswig-Holstein Girozentrale, the press service of the oil company reported. The credit is given for a three year period. The interest rate is LIBOR +3.25 percent.

The attraction of the new credit followed the placement of Eurobonds totaling $500m in November 2002. The bonds with a 10.75 coupon and a maturity date in January 2009 have the longest period of maturity among bonds of Russian companies that have ever been placed on international markets.

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