Volume of Gazprom credits posted

Gazprom has taken 104bn rubles ($3.4bn) in loans by the end of the first half of 2003, compared to 120bn rubles ($3.95bn) in credits planned for 2003, Gazprom deputy head Boris Yurlov declared at a news conference in Moscow today. He reiterated that in 2002 the holding attracted $1.75bn in credits, which was more than 50 percent of the planned volume. Yurlov said that in the future Gazprom was planning to use all instruments of taking loans. In particular, the gas giant is going to issue ruble bonds totaling 10bn rubles ($330m). Yurlov does not rule out that Gazprom will issue Eurobonds and convertible bonds in the future.

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