Credit Bank of Moscow Funds Trafigura for Vostok Oil Stake
Bloomberg reported that Trafigura Group’s purchase of a stake in Rosneft PJSC’s flagship Arctic oil project was funded by a USD 7 billion loan organized by a Russian bank. According to corporate filings in Singapore, the trading firm agreed to a EUR 5.775 billion loan facility with Credit Bank of Moscow PJSC on December 23.
The two companies last week said they had completed a deal for a 10% stake in Vostok Oil, without providing a value. Trafigura had said the purchase had been majority financed by long term debt, but didn’t name the lenders.http://vostok-oil.ru/img/bg-img/14.jpg