Season of cheap money
Lukoil received $750 mn underwritten credit from major banks On 27 October 2003, representatives of Lukoil and group of western banks signed documents giving green light to $750 mn syndicated credit for the company. The credit, secured on export contracts, will be executed in two trenches, $450 mn over 5 years with APR of LIBOR+2% and $300 mn over seven years with APR of LIBOR+2.5%.
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