"Rosneft" to receive 10 trillion in revolving credits.

The company increases the amount of revolving credit.

"Rosneft" is going to increase the maximum lavel of revolving credits, attracted during the year in its own Russian Regional Development Bank (RRDB) and the state VTB and Gazprombank, by about two and a half times - to nearly 10 trillion roubles. The marginal rate of rouble loans increased significantly, and the Yuan was added to the standard list of currencies - roubles, dollars and euros. "Rosneft" explains that the funds are necessary for operations, and the total amount - is "the totality of its treasury operations for the year". The experts add that the company would need the funds most to restructure its loans.

On June 17th at shareholders meeting "Rosneft" suggests approving the loan agreements with RRDB, VTB and Gazprombank (GPB) for a total maximum amount of up to 9.9 trillion roubles. Shareholders approved similar highs of the borrowing each year, but this time the limits are much more than last year: then the company has approved a total maximum from several banks at the level of about 4 trillion roubles. Now the deals on attracting (including overdraft loans and credit lines) up to 3 trillion roubles from RRDB (under the control of "Rosneft"), up to 3.7 trillion roubles from VTB and up to 3.2 trillion roubles from GPB are to be approved. "Rosneft" has also added yuan to the list of standard rates of its loans (in roubles, euros, dollars) (Chinese CNPC is the main foreign partner of "Rosneft").