Russneft plans to attract up to $1 billion from VTB Capital
Edited by vadim / 2014-03-11 05:38:27
Russneft plans to attract up to $1 billion from VTB Capital plc, Saratovneftegaz (Russneft’s subsidiary), will become the loan guarantor, reported.
The guarantee is unlimited; he date of the guarantee agreement signing is March, 7th. In 2014, Swiss raw material trader Glencore – the largest creditor of Russneft – may become a shareholder of the oil company, converted a part of its debt – at least $900 million – into its shares, the trader reported at the beginning of March. In 2013, Russneft paid $1.22 billion to Glencore towards the repayment of its debt.
