Press Releases and Events
NOVATEK’s Board approved US$ 800 million syndicated term loan facility
Moscow, 22 April 2008. OAO NOVATEK (the «Company») today announced that the Company’s Board of Directors has approved a US$ 800 million unsecured syndicated term loan facility (the «Facility»).
The Facility is obtained for general corporate purposes including funding our 2008 capital expenditure program.
The Facility has a three year tenor with an 18 month repayment grace period and is to be repaid in quarterly instalments. The Facility pays an initial margin of LIBOR plus 1.25% per annum for the first 18 months and rising to 1.50% per annum thereafter.
The loan is guaranteed by the Company’s subsidiaries — OOO
The Facility is arranged and fully underwritten by BNP Paribas, CALYON, Citibank International plc and Sumitomo Mitsui Banking Corporation Europe Limited. The Facility Agreement was signed on 21 April 2008.
PAO NOVATEK is one of the largest independent natural gas producers in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. Upstream activities of the Company’s subsidiaries and joint ventures are concentrated mainly in the prolific Yamal-Nenets Autonomous Area, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation.