MOSCOW, October 20 (RIA Novosti) - ABN Amro Bank N.V. and Dresdner Kleinwort are to provide a syndicated loan of $2.5 billion to Gazprom as part of a $13 billion credit arrangement to finance the natural gas monopoly's acquisition of oil major Sibneft, the banks said Thursday in a press release.
The loan will be provided in two tranches of $1.25 billion each, with terms of three and five years, and interest at LIBOR+0.7% and LIBOR+0.9% respectively.
The remaining credit is being provided by Citibank, Credit Suisse First Boston, Goldman Sachs, and Morgan Stanley.
Gazprom reached an agreement on the acquisition of a 72.7% stake in Sibneft with its majority stakeholder Millhouse Capital, an investment vehicle of tycoon Roman Abramovich, on September 28. This is the largest deal in Russia's corporate history.
Gazprombank had previously purchased 3% of Sibneft shares.
The company's board and the Federal Anti-monopoly Service have already approved the deal.
