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Russia's Novatek takes out $800 million loan

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MOSCOW, April 22 (RIA Novosti) - Russia's top independent gas producer Novatek said on its website it has signed an agreement for a three-year $ 800 million loan on Monday.

The loan was obtained for "general corporate purposes including funding our 2008 capital expenditure program," the website said.

The interest rate will be LIBOR plus 1.25% a year for the first 18 months and 1.5% a year later, with the loan to be repaid in quarterly installments.

The loan guaranteed by Novatek subsidiaries was arranged and fully underwritten by BNP Paribas, Calyon, Citibank International plc and Sumitomo Mitsui Banking Corporation Europe Limited.

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