Gulf Oil and Gas accountACCOUNT

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”.

Financials and Investment News in Russia >>

Cameroon >>  3/4/2021 - Tower Resources plc, the AIM listed oil and gas company with its focus on Africa, is pleased to announce a further extension of its Loan Facility ("Fa...
Canada >>  3/4/2021 - TC Energy Corporation announced that TransCanada Trust (the Trust), a wholly-owned financing trust subsidiary of TransCanada PipeLines Limited (TCPL),...

Germany >>  3/4/2021 - - 227,213 metric tons of certified palm oil and palm kernel oil sourced representing 100 percent of procured material
- Almost 95 percent of glo...

Denmark >>  3/3/2021 - DNV has supported Hapag-Lloyd in obtaining financing for six of its highly efficient containership newbuildings according to the Green Loan Principles...

Italy >>  3/3/2021 - • The partnership provides full assistance to contractors that are part of Enel X's ViviMeglio network
• Intesa Sanpaolo also provides a bridging...

Netherlands/Holland >>  3/3/2021 - - Adjusted EBIT for 2020 financial year of €998 million and adjusted net income of €774 million significantly above prior-year level
- Dividend ...


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  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Russia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.