$150M Transneft Loan

Oil-pipeline monopoly Transneft has obtained a $150 million two-year loan to complete the first phase of the Baltic Pipeline System, the syndication leader said Monday. Raiffeisen Zentralbank, the mandated arranger of the loan, said in a statement that the debut international financing deal was based on ruble receivables. The loan, which carries a margin of 450 basis points over LIBOR, was also extended by Natexis Banques Populaires SA and Standard Bank London Ltd., Citibank and Commerzbank, Saint Petersburg Times wrote.