The US$450mn 5.5-year secured term loan for Russia’s Gazprom, has closed. Mandated lead arrangers and underwriters are ABN Amro (bookrunner), Dexia, HVB (bookrunner, facility agent) and WestLB. The loan is the second largest syndicated loan facility extended to a Russian company since 1998. Some US$500mn was raised, but not taken up.

The funds will be used to finance the modernisation and upgrading of the gas supply system of Russia and to develop gas production facilities (including the Zapolyarnoe gasfield) in order to comply with obligations towards European gas offtakers.

The facility is secured by trade receivables under a long-term gas export contract.

The general syndication followed a senior syndication during which ING Bank and UFJ Bank joined as lead arrangers and DZ Bank as an arranger.

Bank syndicate details:

Mandated lead arrangers

ABN Amro Bank NV

Bayerische Hypo- und Vereinsbank AG

Dexia Crédit Local


Lead arrangers


UFJ Bank Limited


DZ Bank AG


The Bank of Tokyo-Mitsubishi, Ltd

Société Gén érale

Lead managers

Erste Bank der oesterreichischen Sparkassen AG

Landesbank Hessen-Th íringen

SanPaolo IMI Bank Ireland plc


CIC Cr édit Industriel et Comm ércial

Bank fír Arbeit und Wirtschaft AG

Bank of Ireland

Credit Suisse First Boston

Garanti Bank International NV

Hungarian Foreign Trade Bank

Nedcor Bank

Raiffeisenlandesbank Niederoesterreich

Raiffeisenlandesbank Oberoesterreich


Akbank TAS

Sabanci Bank plc


Kredietbank Luxembourg

National Bank of Kuwait (International) plc

Sumitomo Banking Corporation