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Four Banks Willing to Loan to Gazprom
Four banks have applied for granting a loan to Russia’s gas monopoly, Gazprom. Of seven lots, only four attracted the bankers (three ruble and a dollar facility), while the remaining three lots (two euro loans and a dollar loan) didn’t seem advantageous enough.
Russia’s biggest saving bank, Sberbank offered to Gazprom a loan line with the threshold of 17 billion ruble (the company requested at least 1.5 billion ruble) at MosPrime plus 4 percent.
Gazprombank may inject 25 billion ruble (the bid for no less than 1.6 billion ruble) at MosPrime plus 2 percent. VTB is willing to grant 5 billion ruble (the bid for at least 2 billion ruble) at MosPrime plus 4 percent. Gazenergoprombank is ready to provide $100 million ($90 million) at MosPrime plus 4 percent.
So, the overall lending ceiling equals 50 billion ruble. Gazprom announced the tender in September. Later on, it lowered the foreign exchange lots from $100 million to at least $90 million, from $150 million to $130 million, from €70 million to €60 million and from €100 million to €90 million, but didn’t change the ruble limits. As a result, the overall bid narrowed from 18 billion ruble to 16 billion ruble.
www.kommersant.com
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