Yamal LNG Raised Financing with Insurance Coverage by the Swedish & German Export Credit Agencies

Source: www.gulfoilandgas.com 6/13/2017, Location: Asia

OAO Yamal LNG (“Yamal LNG”) announced the signing of agreements with several European banks, inter alia Raiffeisen Bank International AG and Intesa Sanpaolo on 14-year credit line facilities for the total amount up to EUR 425 million at the annual interest rates ranging from EURIBOR 6M plus 1.75% to EURIBOR 6M plus 2.3%, with insurance coverage provided by the Swedish export credit agency EKN and the German export credit agency Euler Hermes. The new creditors have joined the terms of the project financing attracted earlier without increasing its overall amount.

Yamal LNG has previously received financing from the National Welfare Fund of Russia, signed agreements on credit lines with Sberbank and Gazprombank, as well as with the China Development Bank and the Export-Import Bank of China, the Japan Bank for International Cooperation (JBIC) and the bank Intesa Sanpaolo with insurance coverage by the Italian export credit agency SACE and the French export credit agency COFACE.

General Director of Yamal LNG, Evgeniy Kot stated: “Signing of the new agreements with the European banks will allow us to optimize the Yamal LNG credit portfolio. We have already raised sufficient amount of financing and further reduction of average cost of debt will increase the economic value of the project for our shareholders”.


United Kingdom >>  5/17/2021 - i3 Energy plc, an independent oil and gas company with assets and operations in the UK and Canada, is pleased to provide the following update.

...

United Kingdom >>  5/17/2021 - Tullow Oil plc has completed its offering of $1,800 million aggregate principal amount of 10.250% senior secured notes due 2026 (the "Notes"). Interes...

Italy >>  5/14/2021 - Rockhopper Exploration plc, the oil and gas company with key interests in the North Falkland Basin, provides the following update on its international...
United Kingdom >>  5/14/2021 - IOG plc, the UK gas company targeting growth and high returns via an infrastructure-led hub strategy, announces that, under its Company Share Option P...

Brazil >>  5/13/2021 - Petrobras closed the first quarter of the year with solid operational and financial performance, even in a challenging period due to the worsening of ...
United Kingdom >>  5/13/2021 - Angus Energy plc is pleased to announce that the Loan Facility, conditional only on the setting of the hedge, regulatory approval of the royalty arran...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.