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Deutsche Bank will open a USD2 bln credit line for Neftegaz of Ukraine for international projects implementation

February 11, 2005 | Cbonds

Deutsche Bank intends to open a USD2 bln credit line for Neftegaz of Ukraine for implementation of the company’s international projects. It was announced by Alexander Kiselev, director of the external markets department and the BoD member at Neftegaz of Ukraine, at a press-conference. “The memorandum was signed the day before yesterday”, - he said to the question of Ukrainski Novini agency.

Kiselev noted that the credit would be raised for the period of implementation of the most important international projects until they reach a break-even point. He added that the credit might be up to 10 years long. He did not provide any further details.

The company representative said the next round of negotiations with Deutsche Bank would be held the next day, whereupon a credit agreement could be signed.

Neftegaz of Ukraine plans to attract a credit worth USD150 mln from ABN Amro (Netherlands) in February.

In 2004 ABN Amro managed the eurobond issue of Neftegaz of Ukraine (USD500 mln worth of eurobonds were issued in late September 2004).

Based on Ukrainski Novini data


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