Gazprom Marketing & Trading, a unit of Russian gas giant Gazprom, said it has recently signed a USD 500 million syndicated revolving credit facility.
The facility consists of a USD 400 million 364 day denominated multicurrency revolving credit tranche with GM&T as the borrower and a USD 100m single currency revolving credit tranche with GM&T Singapore as the borrower.
The facility was launched at USD 350 million and was subsequently increased to USD 500 million after being significantly oversubscribed with commitments from 17 international banks from around the world including European, Asian and American banks, GM&T said in a statement.
Alexander Kim, Executive Director of Finance, GM&T, said: “For the first time ever, funding was secured via our subsidiary GM&T Singapore. This is a very positive development and ties in with PAO Gazprom’s strong focus on expanding its business into the Asia Pacific region.”
Image: Gazprom M&T