LUKoil attracts credit to replenish working capital
Feb 18, 2002 01:00 AM
Russian oil major LUKoil, with the help of ING Bank and Raiffeisen Zentralbank Oesterreich, has attracted a credit of
$ 300 mm to replenish working capital. The credit is being granted for 4.5 years and is guaranteed by oil export
revenue.
Oil exports are carried out through the trading company LUKoil Petroleum.
Repayment of the credit will begin one year after it is received, in monthly payments. It is planned to invite a
number of other banks to participate in the syndicated credit.
LUKoil net profit to US GAAP in 2001, according to early figures, amounted to $ 2.586 bn, compared with $ 3.312 bn in
2000.
Source: Interfax Information Agency
