International Financial Review: LUKOIL'S Receipt of Credit Is Deal of Year

LUKOIL'S receipt of credit worth USD 300 million for a period of 4.5 years has been hailed as unprecedented in view of its terms and conditions in the annual evaluation of deals made by leading international banks. A Rosbalt correspondent was informed of this by the press office of LUKOIL-Volganefteproduct.

According to the company press office, the leading economic publication 'International Financial Review' called this credit 'the deal of the financial year on developing markets.' LUKOIL is the first Russian oil company to succeed on the European credit market in 2002. Two western banks, ING Bank (Netherlands) and RZB (Raiffeisen Zentralbank, Austria) organised the loan. Having obtained credit for over 3 years LUKOIL itself opened a long-term credit market (up to 5 years) for other debtors.

The awards established by the 'International Financial Review' take into account the year's activity and successful deals on the world financial markets.