US$ 215 mln Syndicated Loan Facility for JSC Gazprom
WestLB AG London Branch is pleased to announce the highly successful close of the syndication of the US$150m 2 year unsecured loan facility for the world’s largest gas producer, Gazprom of Russia.
US$240m of commitments were raised in the market, and Gazprom has agreed to accept a final amount of US$215m. This is the largest unsecured term loan facility syndicated on the bank loan market, extended to a Russian company underlining further the confidence in Gazprom and in the Russian market as a whole.
WestLB acted as Mandated Lead Arranger and Underwriter for the transaction. Moscow Narodny and HSBC Bank plc are Senior Lead Arrangers. Lead Arrangers are Credit Lyonnais SA and Bank of China London Branch; Co-Arrangers are Persia International Bank and an undisclosed investor; Lead-Managers are BRED Banque Populaire, Erste Bank der Oesterreichischen Sparkassen AG and Garantibank International NV.
WestLB AG London Branch is particularly pleased that the deal attracted a number of new lenders to Gazprom and to the unsecured loan market in Russia.
Gazprom is one of the world’s leading integrated natural gas companies and the world’s largest natural gas company in terms of reserves, pipeline network and production of natural gas, with total production of 521.9 bcm in 2002. In 2002, according to preliminary estimates, Gazprom accounted for approximately 87.7% of the Russian Federation’s natural gas production, and approximately 20% of the world’s natural gas production. In the same year, Gazprom’s production of natural gas increased, mainly due to the new production facilities at the Zapolyarnoe gas field.
The facility agent is WestLB AG London Branch and the documentation was signed in London on 25th June 2003. The proceeds of the loan are to be used for general corporate purposes.
Contact for further information:
Ewa Gracey / Penny Smith
Primary Debt Group
WestLB Global Financial Markets
Tel: +44 20 7020 3683 / 3321
Melanie Struve
Marketing & Communication
WestLB Global Financial Markets
+49 211 826 71887
Contact for information regarding WestLB Group:
Dr. Michael Wilde
Head of Press & Information WestLB AG
+49 211 826 2210