03.07.2009 /Operations
 Alfa-Bank extends R1.5 bln loan to Gazenergoset
On June 30, Alfa-Bank transferred R400 mln to Gazenergoset as part of an agreed R1.5 bln credit line. The agreement was signed on June 22 and is valid until March 12, 2011. Alfa-Bank has already transferred R1.1 bln to Gazenergoset under the terms of the agreement. The facility is available for approximately two months and is aimed at replenishing the company’s working capital. Alfa-Bank’s corporate business development director, Alexei Zotov, said, «Alfa-Bank is continuing to accumulate funds to finance Russia’s industrial enterprises. We are actively cooperating with Gazprom’s subsidiaries, which currently owe Alfa-Bank R5.4 bln.» Anatoly Pali, first deputy general director of Gazenergoset, said, «Gazenergoset is actively working with leading credit institutions to raise the necessary funds to finance its current operations. This credit line is intended to facilitate the sale of liquefied natural gas and oil products.» Alfa-Bank’s oil and gas sector portfolio currently exceeds R20 bln.
|
