Gazprom Neft Secures EUR258 Million Loan
08/10/2012| 07:58am US/Eastern
By James Marson
MOSCOW--Russian oil producer OAO Gazprom Neft (>> JSC Gazprom Neft) said Friday it has secured a 258 million euro ($318 million), 10-year loan from HSBC Holdings PLC (>> HSBC Holdings plc), Erste Group Bank AG's (EBS.VI) Czech unit Ceska Sporitelina and Komercni Banka AS (BAAKOMB.PR) to purchase equipment and services to upgrade an oil refinery that belongs to its Serbian subsidiary NIS.
The Export Guarantee and Insurance Corporation of the Czech Republic guaranteed the loan, Gazprom Neft said in a statement.
The agreement is still to be approved by Gazprom Neft's board of directors, the company said.
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